The Ethereum (ETH) was trading at US$ 1.877,32 at the time of publication of this news article, recording a decline of US$ 47,90 (-2,55%) over the last 24 hours. Despite the short-term pullback, the market's second-largest cryptocurrency has accumulated a 16% gain over the last month and continues to show technical signals that are drawing analysts' attention.
Among the indicators being monitored, one of the highlights is the behavior of the MVRV, which, according to analyst Ali Martinez, is close to making a bullish crossover above its 160-day simple moving average. In previous cycles, this movement coincided with the end of periods of weakness and the beginning of significant recoveries in the price of Ethereum.
The indicator known as MVRV Momentum compares the aggregate profitability of the cryptocurrency's holders with its medium-term trend. When the daily index rises above the 160-day moving average again, the market usually interprets the move as a transition between the capitulation phase and a new period of accumulation.
According to the analysis shared by Martinez, this is the first time this setup has appeared in 2026. Over the last three years, similar crossovers preceded relevant ETH appreciation moves, making the indicator a reference watched by investors who follow on-chain data.
In addition to the technical signals, large investors continue increasing their positions in Ethereum. Recent data show that an anonymous whale acquired 27.000 ETH, valued at approximately US$ 52,03 milhões, through Galaxy Digital's over-the-counter (OTC) trading desk. The move took place after about three months without activity from this wallet.
Another well-known name in the market also increased his exposure to the asset. BitMEX co-founder Arthur Hayes bought more 644.34 ETH, in an operation estimated at US$ 1.25 million. With this new acquisition, its accumulated purchases over the last eight days reached 3,270 ETH, following other multimillion-dollar operations carried out recently, in addition to movements related to the cryptocurrency's staking.
Institutional interest and that of large investors is taking place at the same time as prediction markets continue to show positive expectations for Ethereum's performance. Among the estimates tracked by market participants, there are projections that ETH could reach US$ 3,210 by the end of 2026, reinforcing optimism around the cryptocurrency as investors monitor the evolution of technical indicators and on-chain movements.
