Reason to trust
Strict editorial policy that focuses on precision, relevance and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reports and publications
Strict editorial policy that focuses on precision, relevance and impartiality
Leon football price and some soft players. Each Arcu Lorem, Ultrices any child or ullamcorper football hate.
This article is also available in Spanish.
According to a key indicator in the chain, Ethereum (ETH) can be undervalued at its current market price. The last time ETH was undervalued was in October 2023, after which he experienced a 160%rally.
Ethereum can be undervalued, suggests an indicator in the chain
Ethereum’s current MVRV-Z score suggests that the second largest cryptocurrency for total market capitalization may be underestimated at its current price. This metric, used to determine if an asset is overvalued or undervalued, is currently at its lowest level in 17 months.
Related reading
The low MVRV-Z score of ETH indicates that the digital asset can approach a local background. In particular, the last time this metric was at a similar level in October 2023, ETH increased by 160%.
For the uninitiated, the MVRV-Z score compares the difference between the market value of an asset and its value made to assess the over-sales or overall conditions. A high score indicates possible tops on the market, while a score under suggests possible funds.
In addition to October 2023, Ethereum’s MVRV-Z score has entered the green band twice, once in December 2022 and again in March 2020. On both occasions, ETH subsequently entered a bullish phase.
In addition, chain analysis indicates that cryptographic whales are accumulating in silence eth in anticipation of a significant ascending movement. Cryptoquant data reveal that ETH inputs in accumulation addresses have increased to maximum of several years, exceeding the levels seen before the main bullfights.
The high tickets in the accumulation addresses suggest that institutional investors and large holders anticipate an increase in the price of ETH. This is aligned with recent analysis prediction That ETH is ready for a substantial concentration this year, which potentially leads the digital asset to $ 9,000.
In addition, ETH whales, wallet addresses between 1,000 and 10,000 eth, have accumulated aggressively since July 2024. This coincided with the United States Stock Exchange and Securities Commission (SEC) approval From the first ETH exchange fund (ETF) Spot Eth.
Is ETH surprised the market?
Beyond a MVRV-Z Alcista score and the increase in ETH inputs in accumulation addresses, several other indicators suggest that ETH can be on the edge of a surprise manifestation, despite prevailing bearish feeling.
Related reading
After the recent market setback, the ETH HA Weekly Force Weekly Index (RSI) abandonment At a minimum of three years, feeding optimism for an imminent rally. However, growing ETH reserves in exchanges could raise a challenge for ascending impulse.
Similarly, there are concerns regarding the continuous of the Ethereum Foundation sale of ETH, which may be contributing to price suppression. At the time of publication, ETH is quoted at $ 2,268, reflecting a 3.7% increase in the last 24 hours.
Unspash’s prominent image, Glassnode, Cryptoquant and TrainingView.com graphics
