Ethereum $2,295.31The local presence of the MVRV Z-Score indicator, used for Ether, fell to the lowest level of 17 months and attracted attention. This indicator makes Ether’s comparison with the realized value of the market value. The decline of the indicator to these levels indicates the possibility of a lower level in Ethereum’s current valuation. Technical Analysis and On-Chain data reveal potential recovery and risk zones that attract market players.
MVRV Z-Score and Ethereum Market
MVRV Z-Score is an important indicator that enables Ethereum’s market value to be compared to the past average price. The decrease of this indicator usually shows that the value of a digital asset is low. Looking at historical data, the fact that MVRV Z-Score remains in the green zone indicates that Ether has reached an affordable price level for long-term investors. In addition, after similar decreases in the past, large market mobility took place and this attracted the attention of investors.
On-Chain data plays an important role in this period. According to data, large investors and long -term holders have increased their presence as the price of Ethereum decreased. The amount of Ether, which has been transferred to the main accumulation addresses, has reached the highest levels of recent years. This shows that after a decrease in the market price of Ethereum, large investors are effectively accumulating assets in the market. However, it is unclear when these savings will lead to a movement in the market.
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Technical Analysis and Price Movements
Technical analysis shows that Ethereum shaped price movements around support and resistance levels. It is noted that the price is supported by the sub -trend line of the symmetrical triangular formation between the lower trend line and the 200 -week moving average levels. Analysts say that the price of ETH has the potential to recover at this level. Especially if the fibonacci levels are exceeded, the price of Ether may tend to turn to higher resistance zones.
However, the risk may increase if the lower trend line of the triangle is broken. In this case, the price may be reduced to lower levels. Looking at past market movements, such breaks can cause long -term downward movements. Investors determine their strategies by carefully monitoring the current market conditions.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
