Analyst Ali Martinez says Ethereum's reclaim of a major MVRV pricing level could open the way toward a $3,000 target. The call rests on on-chain patterns that have preceded past ETH recoveries, with Martinez flagging resistance tests near $1,980 and $2,080 before any move higher.
Crypto analyst Ali Martinez said on August 6 that Ethereum's move back above a key MVRV pricing level could open the way toward a $3,000 target. Martinez wrote in a post on X: "ETHEREUM IS HEADING TO $3,000". His view is based on historical on-chain patterns that have previously appeared before major ETH recoveries, though resistance levels remain ahead.
Ethereum Reclaims MVRV Level as Support
Martinez said the asset turned bullish after breaking above its 0.8 MVRV Pricing Band near $1,800, a level he said has historically marked a turn from weakness into recovery phases. The move follows an earlier July 6 post, in which Martinez identified $1,800 as the level Ethereum needed to clear; at the time, ETH was testing that area as resistance. A successful daily close above it, he said, was expected to raise the chances of a move toward Ethereum's Realized Price.
In his August 6 post, Martinez confirmed that Ethereum had since reclaimed the MVRV level as support. He said similar recoveries over the last six years have often pushed Ethereum toward, or above, its Realized Price, which currently sits near $2,300.
A Golden Cross Has Preceded Past Rallies
Martinez also pointed to an MVRV Momentum golden cross that formed after Ethereum's recovery. He noted previous signals of this type were followed by rallies of 50%, 166%, 74%, and 113%. The metric compares Ethereum holder profitability with the asset's 160-day moving average and is used to track shifts between selling and recovery phases.
Ether Trades Near $1,900
Ethereum was trading around $1,900 at the time of writing, up 1.6% over the previous 24 hours. It has gained almost 7% over the last 30 days but remains down more than 47% over the last year. ETH reached an all-time high near $4,950 in August 2025 and is still around 62% below that level.
Source: CryptoPotato
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