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David Tevzadze
David Tevzadze

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πŸ“Š Ethereum at $3.3K – Does THIS Historical Pattern Indicate a Bullish Breakout?

πŸ“ˆ MVRV Bands Signal Upside Potential
Ethereum (ETH) trades at $3,330, below the 3.2 MVRV Pricing Band of $6,770. Historically, surpassing this band signals strong market momentum. Current levels suggest ETH remains undervalued, with room to rally in bullish conditions.

πŸ”‘ Support Levels to Watch
Lower MVRV ratios like 0.8, 1.0, and 2.4 sit at $1,693.33, $2,116.66, and $5,080, respectively, providing support during pullbacks. If ETH surpasses the 3.2 band, it could reflect growing market confidence and a continuation of its uptrend.

πŸ’° Institutional Demand and ETFs
BlackRock, Fidelity, and Bitwise collectively hold over 1.7M ETH in their ETFs, indicating rising institutional interest. Inflows suggest a growing appetite for $ETH , boosting confidence in its long-term prospects.

πŸ“Š Analysts on Altseason and ETH’s Role
Michael van de Poppe dubbed this the β€œmost hated rally,” implying unexpected bullish momentum. Meanwhile, Joao Wedson expects altcoins, including ETH, to recover and outperform Bitcoin. Ethereum’s key role in utility-focused projects could further drive demand.

πŸ“Œ Bullish Outlook
With ETH nearing the MVRV threshold, institutional demand and historical patterns point to a potential rally toward $6,770. Sustaining interest could solidify Ethereum’s position as a leader in both valuation and real-world utility.

⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement. Participation in these promotions is entirely voluntary, and you should carefully review the terms and conditions before proceeding.

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