Ethereum’s price increase suggests a strong bullish trajectory, with indicators pointing to more growth.
Rising MVRV and RSI metrics hint at possible continued upward movement toward $4,000.
Traders should watch for key resistance levels while considering potential market corrections.
Ethereum is showing signs of entering a second bull run as analysts study its MVRV ratio and price trends. Historical patterns reveal the coin often experiences two major price surges during bull runs, with the second typically surpassing the first. Investors are closely monitoring the metrics as they align with this previous behavior, raising important questions about what could happen next.
The MVRV ratio, which compares market value to realized value, has previously been reliable in highlighting Ethereum’s price movements. During earlier cycles, this ratio hit significant peaks that aligned with large price increases and market activity. Current observations suggest a similar trend is forming, pointing to another potential cycle of upward momentum.
Historical Bull Run Data Offers Clues for Investors
Ethereum’s first major bull market in 2017 showed how quickly the MVRV ratio could climb as prices hit record highs. After reaching its peak, the market experienced a sharp correction, followed by a second smaller surge before eventually stabilizing.
In contrast, the 2020–2021 bear recession introduced stronger trends as ETH's second price surge far outpaced the first. This cycle coincided with the rise of decentralized finance and non-fungible tokens , which brought additional utility to the ecosystem. Both cycles demonstrated Ethereum’s ability to sustain momentum over extended periods, particularly when supported by strong on-chain activity.
The current cycle is beginning to mirror these past events, with one MVRV peak already observed. Analysts believe a second peak could occur if historical trends repeat, especially as Ethereum’s use cases continue to expand.
Source: Twitter (X)
Present Metrics Point to Renewed Market Strength
Ethereum’s MVRV ratio has started rising again, and this increase suggests renewed activity that could drive future price growth. Meanwhile, the realized price metric, which represents the average cost basis of Ethereum holders, remains steady and indicates strong market support.
As the token's utility within DeFi and NFTs continues to grow, it adds an extra layer of prospective momentum to the market. However, while the MVRV ratio offers important insights, investors must remain cautious due to the risks associated with stock volatility.
Ethereum Surges 7% to $3,614: Bullish Indicators Signal Potential Rally to $4,000
Ethereum’s price has surged to $3,614, marking a 7.46% increase, as depicted in the latest TradingView chart. This rise showcases significant bullish momentum, reinforced by the formation of a rounded bottom—a well-known technical reversal pattern. The chart highlights multiple support and resistance zones, with $2,000 acting as a strong foundational support.
Source: Tradingiew
Meanwhile, Ethereum's current breakout above the $3,500 resistance signals potential for further upward movement. Additionally, green arrows on the chart indicate areas of consolidation and subsequent rebounds, underscoring Ethereum's sustained strength after recovering from mid-2022 lows.
Technical indicators further confirm Ethereum's bullish outlook. The Relative Strength Index sits at 62.33, signaling that the cryptocurrency is in a moderately overbought zone, which often precedes continued upward trends. .
This alignment suggests increased buying pressure, possibly propelling Ethereum to retest its next key resistance level near $4K. With growing shareholder interest and strong on-chain metrics, Ethereum’s price trajectory appears poised for further gains. However, traders should monitor critical levels and market sentiment for possible corrections.
