Summary
- Ali Martinez said Ethereum is attempting to recover its $2,335 realized price.
- If that zone is turned into support, the MVRV price bands suggest improving investor profitability could extend the upward trend.
- He said that if reclaiming the average purchase price again strengthens upside momentum, as it has in the past, Ethereum could have room to rise toward about $5,600.
Forecast Trend Report by Period
Ethereum has reclaimed a key price zone, bringing it to a pivotal point in establishing a base for further gains.
Crypto analyst Ali Martinez said on April 28 that Ethereum is trying to retake its realized price at about $2,335. Based on MVRV, or market value to realized value, price bands, a successful flip of that level into support could improve investor profitability and keep the rally going.
Realized price is an on-chain metric that reflects the average purchase price of market participants. If Ethereum regains that level, the broader market would effectively move back into profit.
That pattern has played out before, with bullish momentum strengthening after Ethereum recovered its average cost basis, Martinez said. In that case, Ethereum could have room to advance toward about $5,600, where the 2.4 MVRV band is located.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
