Updated: 2026-08-06
A well-known crypto analyst believes that Ethereum's rise above a key price level of MVRV (Market Value to Realized Value) could lead to an increase in the altcoin's price to $3,000.
MVRV (Market Value to Realized Value) is an on-chain indicator that compares a cryptocurrency's market capitalization to its realized capitalization. It helps assess whether an asset is overvalued or undervalued and identify phases of market cycles.
Martinez expects that the altcoin has turned bullish after overcoming the price band of 0.8 MVRV around $1,800. Historically, this level has been the point where $ETH transitions from a phase of weakness to a recovery phase.
At the beginning of July, he identified the $1,800 mark as the level that Ethereum must overcome. At that time, the analyst predicted that a successful daily close above this level would increase the altcoin's chances of moving towards its realized price. A month later, Martinez confirmed that Ethereum had returned to the MVRV support level. Such recoveries over the past six years have often led to the asset reaching or exceeding its realized price.
Furthermore, the analyst noted a "golden cross" of the MVRV Momentum indicator, which compares Ethereum's returns to its 160-day moving average. Historically, such signals have been followed by rallies of 50%, 166%, 74%, and 113%.
Other experts also predict a recovery for $ETH. Trader Ted Pillows stated that the price could rise to $2,000 if it holds around $1,800 after the 18.5% surge in July. Michael van de Poppe also wrote that maintaining the price at $1,800 could lead to an increase to $2,000 and then to $2,300.
Currently, the leading altcoin is trading at $1,909, having declined by almost 1% over the past week, according to CoinMarketCap.
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