ETH MVRV Hits 2.15 as Altcoin Market Cap Eyes $1.05T Breakout Level for Q4 Rally
- Ethereum’s on-chain data (MVRV ratio) shows holders remain strong despite recent price volatility
- Total altcoin market cap is compressing in a bullish pattern below a key $1.05 trillion resistance
- Analysts believe the next major altcoin rally hinges on a new wave of institutional ETF products
After a volatile August, the crypto market’s attention is shifting to the fourth quarter. Ethereum’s sharp 6% decline in the past 24 hours to near $4,400 has injected fear into the market, but zooming out reveals a different picture.
Should Ethereum’s 6% drop be of concern?
According to analyst Crypto Rand, ETH has surged over 220% in just four months, from $1,500 to nearly $5,000, an impressive +220% gain.
He argues the recent rejection from the 2024 resistance zone, a level ETH has tested over seven times, is not a sign of structural weakness
“Nothing critical… we just breached into new local highs breaching the strong resistance from 2024,” he noted, adding that on higher timeframes, the market remains firmly bullish.
What Do On-Chain Fundamentals Reveal About ETH Holder Strength?
On-chain data strongly supports ETH’s lo…
The post ETH MVRV Hits 2.15 as Altcoin Market Cap Eyes $1.05T Breakout Level for Q4 Rally appeared first on Coin Edition.
Read More
Ethereum (ETH) Price Prediction: Can Bulls Defend $4,400 After Sharp Rejection?
Why Is ETH’s Price Down? A 121% Volume Spike Shows Intense Profit-Taking After the ATH
ETH MVRV Hits 2.15 as Altcoin Market Cap Eyes $1.05T Breakout Level for Q4 Rally
- Ethereum’s on-chain data (MVRV ratio) shows holders remain strong despite recent price volatility
- Total altcoin market cap is compressing in a bullish pattern below a key $1.05 trillion resistance
- Analysts believe the next major altcoin rally hinges on a new wave of institutional ETF products
After a volatile August, the crypto market’s attention is shifting to the fourth quarter. Ethereum’s sharp 6% decline in the past 24 hours to near $4,400 has injected fear into the market, but zooming out reveals a different picture.
Should Ethereum’s 6% drop be of concern?
According to analyst Crypto Rand, ETH has surged over 220% in just four months, from $1,500 to nearly $5,000, an impressive +220% gain.
He argues the recent rejection from the 2024 resistance zone, a level ETH has tested over seven times, is not a sign of structural weakness
“Nothing critical… we just breached into new local highs breaching the strong resistance from 2024,” he noted, adding that on higher timeframes, the market remains firmly bullish.
What Do On-Chain Fundamentals Reveal About ETH Holder Strength?
On-chain data strongly supports ETH’s lo…
The post ETH MVRV Hits 2.15 as Altcoin Market Cap Eyes $1.05T Breakout Level for Q4 Rally appeared first on Coin Edition.
Read More
Ethereum (ETH) Price Prediction: Can Bulls Defend $4,400 After Sharp Rejection?