Ethereum has broken above its $1,800 MVRV pricing band, prompting analysts to identify $3,000 as the next price target. Analyst Ali Martinez noted that past MVRV momentum golden crosses preceded price gains of 50% to 166%. However, over 10 million ETH changed hands near the $3,000 level, creating a major resistance zone that must be overcome for the rally to continue.
Ethereum price cleared its $1,800 MVRV (market-value-to-realized-value) band in early August, fueling a bullish outlook. Analysts have identified $3,000 as the next price target for the second-largest cryptocurrency.
Past MVRV golden crosses preceded gains of 50% to 166%, Martinez stated on social media. Ethereum was trading at $1,892 as of press time, recovering roughly 20% from its early July low near $1,580.
The realized price for Ethereum currently sits around $2,245. Martinez noted that prior breakouts from the 0.8 MVRV band pushed ETH above or close to this realized value level.
Trader Michael van de Poppe noted on X that this is the time for positioning in ETH, adding that waiting for full confirmation could lead to a missed move. He said that “a price surge to $3,000 in a few days or weeks would be no surprise.”
More than 10 million ETH was traded at the $3,000 level based on on-chain data. Holders may sell as prices approach that level, which would increase supply and potentially slow the upward trend.
CryptoQuant indicated that the two-month difference in USDT market cap approached minus $4 billion in early August. This lower supply of stablecoins suggests reduced buying power for cryptocurrencies.
Analyst Celal Kucuker predicted $5,100 as the first all-time high target for Ethereum, with $6,300 as the next level. He stated that “ETH has clearly decoupled from BTC” and that “the move could be faster and more aggressive than most expect.”
Quinten Francois mentioned that transactions on the Ethereum network broke a record despite the weak price performance. For now, Ethereum price must break through $2,245 to test the major resistance at $3,000.
