What to know:
- Ethereum price cleared its $1,800 MVRV band as analysts identified $3,000 as the next target.
- Past MVRV golden crosses preceded gains of 50% to 166%, according to analyst Martinez.
- More than 10 million ETH changed hands near $3,000, creating a major resistance zone.
Ethereum price could rise toward $3,000 after reclaiming a key on-chain valuation band, according to market analysts. A bullish MVRV signal supports that outlook. However, ETH must first clear its realized price and a large supply zone near the projected target.
As of press time, Ethereum is trading at $1,892. The token had recovered about 20% from its early July level near $1,580.
In an X post, Ali Martinez described the July level as a possible launch point. Similar historical setups preceded gains ranging from 35.48% to 202.66%. The largest of those moves occurred in 2025.
Why the Ethereum Price Outlook Turned Bullish
Ethereum price broke out of its 0.8 market-to-realized-value pricing band, approaching $1,800 around early August. The MVRV ratio calculates the market capitalization relative to realized capitalization.
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The realized capitalization prices coins based on their last price movement. It determines the total cost basis of the market.
According to Martinez, prior breakouts from the 0.8 band pushed ETH above or close to its realized value. At this time, the realized value is around $2,245.
Additionally, the cryptocurrency formed an MVRV momentum golden cross at the time. The four previous signs were followed by increases of 50%, 166%, 74%, and 113%.
They back the prediction without proving another potential price surge. The Ethereum price requires sufficient demand to push past the resistance.
Trader Michael van de Poppe noted that this was the time for positioning in ETH. He added that waiting for a full confirmation can lead to a missed quick price move. The analyst said that a price surge to $3,000 in a few days or weeks would be no surprise.
What Could Block a Move Toward $3,000?
The $3,000 range is a key resistance level. More than 10 million ETH was traded at that level based on on-chain data.
Holders may sell at ETH prices approaching the level of the initial investment. The action would cause an increased supply and slowdown of the trend.
Liquidity in the cryptocurrency markets is another problem. CryptoQuant indicated that the two-month difference in USDT market cap approached minus $4 billion in early August.
However, $870 million of that decrease came during the latest 11 days. The lower supply of stablecoins means less money for buying cryptocurrencies.
Nonetheless, the decreased USDT supply is not proof of the imminent decline in ETH. The data only indicates a reduced liquid supply of stablecoins.
However, analyst Celal Kucuker predicted $5,100 as the first target above the record-high level for Ethereum. He also set $6,300 as the next level but expected a violent market reaction there.
Kucuker claimed that ETH has decoupled from BTC’s recent movement. This divergence, according to him, means a more aggressive movement than people think.
Quinten Francois mentioned that the transactions on the Ethereum network broke a record despite the weak price performance. For the time being, the Ethereum price needs to break $2,245 to test the higher resistance at $3,000.
Also Read: Ethereum Staking Sets Record at 41.7M ETH as Market Price Falls
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