Ethereum MVRV Indicator Shows Price Has Reached Long-Term Bottom Zone

On February 28, analyst @alicharts noted that the current Ethereum MVRV (Market Value to Realized Value ratio) has dropped to 0.78. Historically, when the MVRV ratio falls below 0.80, ETH is usually near a long-term bottom.

However, the market is still in a phase of heavy distribution. @alicharts pointed out that if selling pressure continues, potential support levels are at: $1800, $1584, $1238, and $1089. #Gate广场发帖领五万美金红包