MZH Zee

08/02 06:44

ETH rally still has more running to do According

ETH rally still has more running to do

According to Glassnode, ETH’s Relative Unrealized Profit metric is currently hovering just below the +1 standard deviation level.

In contrast, back in March – when ETH hit $3.98K – this metric had reached +2σ, showing much higher levels of paper profits across the network.

The takeaway? Despite the rally, most holders haven’t taken significant gains yet.

If ETH were to revisit that +2σ level now, it could point to a potential price target around $4.9K, suggesting there’s room left.

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