🚨 ETH Price May Skyrocket to $4,000! 🚨
Ha! Look at Ethereum’s MVRV Z-Score, folks! It’s gone down to its lowest level in 17 months, and I’m not crying, you’re crying! 😭 This means that Ether (ETH) might be undervalued, and who knows, maybe it’ll even return to the glorious days of $4,000! 🚀
Ethereum’s MVRV Z-Score nears accumulation zone
So, the MVRV Z-Score, which is like a super cool metric that compares Ethereum’s market value to its realized value, is now in the green zone, which is historically associated with undervaluation. This means that ETH might be trading at a discount, like a fancy wine that’s still full of life but just needs a good bottle opener to shine! 🍷
And guess what? The last time the MVRV Z-Score was this low was in October 2023, just before ETH rebounded by almost 160% in the following months! That’s like a rollercoaster ride, folks! 🎠 Similarly, the score’s dip to the green zone in December 2022 and March 2020 preceded historic bull runs, so maybe, just maybe, we’re in for another wild ride! 🎢
CryptoQuant data shows that daily ETH inflows into accumulation addresses have spiked to their highest level in years, surpassing previous accumulation phases seen before major bull runs. It’s like a big fat check from grandma, but instead of cash, it’s Ethereum! 🤑
This suggests that institutional investors and long-term holders are aggressively accumulating ETH while its MVRV Z-Score remains undervalued. It’s like a big game of musical chairs, but instead of chairs, it’s Ethereum whales! 🐳
Notably, Ethereum whales holding between 1,000 and 10,000 ETH have been aggressively accumulating since July 2024, when multiple Ether-specific spot exchange-traded funds (ETF) went live for the first time in the US. It’s like a big party, and everyone’s invited! 🎉
Most of the accumulation trend period coincides with Ether’s price pullback, indicating that these whales are buying the dip. In other words, large investors anticipate ETH price will increase in 2025. It’s like a big bet, but instead of money, it’s Ethereum! 🤑
Can ETH price reclaim $4,000?
As of March 6, ETH is trading near $2,291, testing the lower trendline support of the symmetrical triangle and the 200-week EMA ($2,294). It’s like a big game of tug-of-war, folks! 🤯
This support confluence is reinforcing the possibility of a strong rebound from current levels. Historically, similar confluences have preceded major trend reversals, setting the stage for a rally toward the triangle’s upper trendline at around $3,650. It’s like a big snowball rolling down a hill, and it’s gaining momentum! ❄️
Ethereum’s price action aligns with key Fibonacci retracement levels, adding further confluence to a potential bullish breakout. It’s like a big puzzle, and all the pieces are falling into place! 🧩
The 0.382 Fib level (~$2,518) is a key hurdle for bulls, with a successful reclaim opening the door toward $3,000 (0.5 Fib) and eventually $3,420 (0.618 Fib)—a historical resistance zone. It’s like a big obstacle course, but instead of hurdles, it’s Ethereum! 🏋️♀️
A breakout beyond these levels should set up ETH for a retest of $4,063 (0.786 Fib) near the triangle’s upper boundary. It’s like a big target, and we’re all aiming for it! 🎯
Conversely, a decisive break below the triangle’s lower trendline may invalidate the rebound setup overall. Instead, ETH’s price will risk declining toward $1,050, aligning with the 0.0 Fibonacci retracement line. It’s like a big rollercoaster ride, but instead of fun, it’s a downward spiral! 🎠
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2025-03-06 15:30