Ethereum Metrics Turn Positive: Can This Drive A New ATH Above $5,000?

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Ethereum Metrics Turn Positive: Can This Drive A New ATH Above $5,000? - NewsBTC

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Based on this, ETH looks to be headed for a new all-time high (ATH), surging past its current ATH of $4,800. Ethereum MVRV Shows Bottom Is In Data from the onchain analytics platform Glassnode shows that Ethereum’s market value to realized value (MVRV) lowest pricing level is at $1,687, which suggests that the bottom is already in for the crypto token.

These MVRV pricing levels highlight how low or high a token will likely reach in a market cycle based on unrealized loss or unrealized profits. Related Reading: Bitcoin Maintains Market Dominance With $42 Million In Inflows As such, Ethereum is unlikely to see a drop below the $1,687 price level and instead looks headed for its market top.

That price level could mark a market top for Ethereum in this bull run, although crypto analysts like Tyler Durden have predicted that the crypto could still reach $10,000. Other Metrics That Support An Imminent Price Rally For ETH A recent blog post on the onchain analytics platform Cryptoquant highlighted two metrics that show that Ethereum is gearing up for its next leg up.