Ethereum

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Recent data from&nbsp;<a href="https://x.com/santimentfeed/status/1774339066022260969?s=20" rel="noopener noreferrer nofollow">Santiment</a> indicates a significant rebound for Ethereum over the weekend, as the cryptocurrency surged past $3,600. This upward trajectory follows a brief downturn, where&nbsp;<a href="https://u.today/ancient-ethereum-whale-suddenly-awakens-after-9-years-details" rel="noopener noreferrer nofollow">ETH price</a> experienced a drop of up to 25% between March 11 and 19. Despite this setback, Ethereum's resilience is evident as it continues to showcase strong performance.
A notable development contributing to Ethereum's bullish outlook is the surge in the number of ETH addresses holding coins, reaching an all-time high of 118,230. Additionally, the midterm market value to realized value (MVRV) ratio has displayed a subtle bullish signal, further bolstering investor confidence.
For those unfamiliar, MVRV serves as a crucial metric in the cryptocurrency market, offering insights into the relationship between a crypto-asset's market value and its realized value. This ratio not only aids in identifying potential price fluctuations but also sheds light on traders' behavior, providing valuable cues for market trends. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="7baa4350-79e6-4ec7-a1cf-e14175969b86" src="https://u.today/sites/default/files/inline-images/GJ-3Bota8AAb4aw.jpeg">Source: <a href="https://x.com/santimentfeed/status/1774339066022260969?s=20" rel="noopener noreferrer nofollow">Santiment</a>
Examining Ethereum's 30-day MVRV trend reveals a dip into negative territory, suggesting a probable price surge in the near future. While&nbsp;<a href="https://u.today/surprising-ethereum-long-term-indicator-for-price-emerges-as-eth-dips" rel="noopener noreferrer nofollow">Ethereum</a> currently trades over 30% below its all-time high of $4,868, its on-chain activity remains robust, particularly evident in the increase of active non-empty addresses. Such activity often serves as a precursor to significant price movements.
Unlike&nbsp;<a href="https://u.today/bitcoin-btc-price-could-top-150000-yusko-predicts" rel="noopener noreferrer nofollow">Bitcoin</a>, which has surpassed its previous all-time high in the current cycle, Ethereum's ascent to this milestone is eagerly anticipated. With the MVRV indicator signaling a bullish trajectory and on-chain metrics pointing toward increased activity, Ethereum's prospects appear promising in the altcoin landscape.

Ethereum Receives Hidden Bullish Signal Amid New All-Time High

U_Today

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