Analysis: Ethereum’s ‘MVRV Golden Cross’ Signals Bullish Momentum

Ethereum has flashed a bullish signal on its chart, according to analyst Ali Martinez.

In a post on X on July 27, Martinez wrote that “Ethereum’s strongest bullish signal, the MVRV golden cross, has been confirmed.”

MVRV is a metric that measures a digital asset’s market capitalization against its realized capitalization, which reflects investors’ average purchase price. An MVRV golden cross occurs when the indicator’s short-term moving average crosses above its long-term moving average.

Martinez said the signal has appeared four times previously for Ethereum. On those occasions, the cryptocurrency rose 50%, 166%, 74% and 113%, respectively.