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Ethereum continues to maintain its bullish stance, trading above its fair value level of $2,318, according to data from CryptoQuant, posted by analyst TeddyVision. The data shows that Ethereum’s structure remains strong, with the MVRV ratio at 1.67, indicating that holders are in a 67% profit. Despite the recent pullback from the upper realized price band of $5,332, the market remains healthy. The price, around $3,874, reflects consolidation rather than reversal, signaling confidence among participants.
Ethereum’s realized price represents the average cost basis of coins in circulation. Historically, dips below it have marked periods of panic and capitulation. At $2,318, it now acts as a fundamental support zone, ensuring structural stability in Ethereum’s valuation.
The current market price remains high compared to the benchmark. This situation suggests that investors are confident in making companies profitable without excessive speculation. The crypto market's past cycles have already indicated that when Ethereum is sold at prices above its realized cost, the overall trend is likely to be bullish for a considerable time.
The data also indicates that as long as the token stays above this level, Ethereum’s market structure remains strong. Realized price, therefore, continues to serve as the primary anchor for market health.
The MVRV Ratio, standing at 1.67, reveals that the average Ethereum holder is 67% above their cost basis. Historically, ratios above 2.0 have been associated with overheated markets, while levels below 1.0 have marked undervaluation. Ethereum’s current position is hovering between these two extremes, suggesting a stable market that is neither euphoric nor fearful.
The 365-day simple moving average (SMA) of MVRV remains flat, confirming the reduction in speculative trading. Such a pattern usually appears when the market transitions from high volatility to stability. This condition often encourages longer-term holders to accumulate while traders reduce leverage exposure.
During previous periods, the ratio’s surge above 2.0 led to short corrections. Yet, the underlying structure stayed intact, allowing Ethereum to sustain gradual upward growth. Could this cooling phase be the calm before another rally?
CryptoQuant’s Realized Price Bands indicate Ethereum’s long-term valuation thresholds. The upper realized band, near $5,332, defines the overheating limit, while the lower band, at $1,159, reflects deep-value accumulation zones.
Ethereum’s rally in early 2025 approached the upper band before retreating slightly, signaling a controlled correction rather than a market breakdown. This pullback aligns with TeddyVision’s interpretation that the asset is “cooling without structural damage.”
Resistance remains near the $4,000 level, where profit-taking has historically occurred. Still, the upward curve of the realized price confirms steady capital inflows into Ethereum. Spot inflows have slowed, suggesting fewer speculative entries, while holders maintain profits instead of exiting positions.
The latest data signals calm sentiment among investors. Despite the price cooling, holders continue to exhibit patience. Distribution phases, which were previously active near peaks, are now giving way to consolidation as Ethereum adjusts to new liquidity conditions.
As the analyst noted, “Profit without greed - that’s conviction.” The market appears to reflect precisely that. Ethereum’s health depends less on leverage and more on organic liquidity, making its next move likely driven by fresh capital.
For now, as long as Ethereum trades above $2.3K, the foundation stays firm and the outlook remains structurally bullish - a quiet but confident show of strength in a maturing market.
Ethereum continues to trade above its realized price of $2,318, signaling solid market health. With an MVRV ratio of 1.67 and resistance near $4,000, ETH remains stable in consolidation. As long as it holds above fair value, the bullish structure stays intact.
Related: Ethereum Price Prediction: 3 Tokens That Could Make You Richer in the Upcoming Market Climb
