Key Points:
- Ethereum traded at $2,508.45 after a 4.1% daily gain, reclaiming $2,500.
- MVRV crossed above 1.00 after 200 days below it, placing average holders back in unrealized profit.
- A $408 million whale exit and hacker-linked swaps kept selling pressure in focus despite ETF inflows.
CryptoQuant Profitability
Momentum indicators also improved as ETH’s relative strength index eased from overbought territory toward the 60-to-70 range. That still pointed to strong bullish momentum.
Ethereum Sell Pressure
A positive MVRV reading does not guarantee further gains, because the realized-price zone can also encourage holders to sell once positions return to profit. Holding above roughly $2,300 therefore remains important for the recovery.
At one reported snapshot, 70,739 ETH worth about $174 million had reached exchanges, while 97,115 ETH worth about $237 million remained in the wallet.
September inflows had reached another $104.26 million at the time of reporting, providing a source of demand even as large holders sold. Bulls still need to establish $2,500 as support after ETH recently stalled near $2,458.
Ethereum’s latest breakout follows months of difficulty holding major resistance, with the market only regaining its $2,300 realized price in August after the MVRV ratio spent 200 days below 1.00. That history leaves the $2,300-to-$2,500 zone central to whether the rebound can develop into a broader advance.
