Ethereum’s MVRV ratio is currently 2.0, well under the 3.2 threshold linked to previous cycle highs.
Price is $4,179.19, up 17.54% in a week despite a 0.56% daily drop.
Historical data shows prolonged MVRV readings above 3.2 preceded major Ethereum price corrections.
Ethereum’s current MVRV ratio is positioned well below historic peak levels, with recent figures suggesting that the ongoing market cycle may have more room before reaching overheated conditions.
Ethereum Price and Current MVRV Levels
Ethereum as of writing is priced at 4,179.19 with a weekly increase of 17.54 percent and a 0.56 percent 24-hour decrease. The 24-hour trading volume is a total of 29,925,872,406 representing significant trading activity on the market.
The MVRV ratio, which compares market value to realized value, is currently at 2.0. This remains well below the 3.2 threshold historically associated with market tops. Previous breaches of that level have often preceded significant downward corrections.
Historical Market Patterns and Key Thresholds
Glassnode recordings indicate that considerable heights in the year 2016, in early 2018, 2021, and in the mid-year 2024 were encountered when the MVRV ratio maintained substantial values above 3.2. Those represented bubbling markets and were later on followed by sharp reduction in prices.
The current cycle has not yet crossed the 2.4 cautionary level, often seen before approaching critical highs. This positioning suggests that valuations remain within a range historically associated with continued upward potential.
Ali Charts’ Perspective and Market Structure
In a recent post, Ali Charts stated, “Market top? Not for Ethereum $ETH. MVRV Extreme Values point to more room to run.” The statement was supported by chart data showing that Ethereum remains far from “euphoria” levels on the MVRV scale.
The long-term chart shows that Ethereum broke the consolidation phase which started in 2022. Past market action indicates that rallies typically run until when MVRV values maintain at very high levels which has not been the case yet in the recent cycle.
