BlockBeats reported on Aug. 6 that crypto analyst alicharts pointed to an MVRV momentum golden cross in Ethereum. Based on ETH price action over the past six years, alicharts said the asset has often found support after reclaiming the MVRV 0.8 level and then moved toward its realized price, which he put at about $2,300. He added that the current setup matches four earlier MVRV momentum golden cross signals, which were followed by gains ranging from 50% to 166%. Albeit constructive in his historical comparison, alicharts also flagged $3,000 as a key resistance zone, saying more than 10 million ETH have historical transaction records around that area. The comments were cited by BlockBeats in a short market analysis update.
Ethereum has flashed an MVRV momentum golden cross, according to crypto analyst alicharts cited by BlockBeats on Aug. 6.
Drawing on Ethereum’s price history over the past six years, alicharts said ETH has often found support after reclaiming the MVRV 0.8 level, then moved toward its realized price, which he estimated at about $2,300.
He said the current signal is in line with four previous MVRV momentum golden crosses. In those earlier cases, Ethereum posted gains ranging from 50% to 166%.
alicharts also said $3,000 should be treated as a key resistance zone because more than 10 million ETH have historical transaction records at that level.
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