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The MVRV-Z Score, which compares Ethereum’s market value to its realized value (essentially the average price at which coins last moved), helps identify periods of extreme overvaluation or undervaluation.
Historically, when the MVRV-Z Score enters negative territory—especially below the -1 level—it indicates that most ETH holders are at a loss, a scenario often preceding cycle bottoms.
As of April 11, the chart shows Ethereum’s MVRV-Z Score hovering near zero and trending downward.
Traders typically interpret a declining MVRV-Z Score as a sign of capitulation. In previous market cycles, extended periods in the negative zone have coincided with accumulation phases, where smart money begins to re-enter at depressed prices.
Could ETH Price Rebound 50% Next?
Ethereum is currently testing a historically significant accumulation zone around $1,500–$1,600, as highlighted in a weekly chart. This area acted as a springboard for past rallies in 2023 and late 2022, triggering gains of up to 168% and 45%, respectively.
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