Ethereum price stays around $3,000 or enters a new accumulation phase

robot
Abstract generation in progress
CryptoWorld News reports that top analyst Ali Charts pointed out that Ethereum's price has once again become a focal point, as the latest on-chain data suggests a possible long-term accumulation zone. Market participants indicate that signals from the MVRV band, whale activity, and leveraged trading positions have recently begun to align, as traders look for the next major trend. Ali Charts stated that Ethereum has once again fallen below the 0.8 MVRV valuation band, a level historically associated with a strong accumulation period. The current MVRV ratio shows a comparison between Ethereum's market value and the average cost basis of circulating coins. Although Ethereum's price has recently come under pressure, long-term investors seem to be more focused on on-chain data rather than short-term fluctuations. Market observer CW shared new data on leveraged Ethereum price positions, noting that high leverage long positions remain close to the previous day's levels, while short positions have slightly increased. CW also mentioned that whales are quietly increasing long positions at a faster rate, while retail traders remain cautious. The latest whale position data has fueled speculation that Ethereum may enter another accumulation phase.
ETH-2.59%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 1
  • 3
  • Share
Comment
Add a comment
Add a comment
ProtocolPicnic
· 8h ago
MVRV this indicator is too lagging; by the time it confirms the bottom, the vehicle has already left.
View OriginalReply0