Ethereum's daily MVRV ratio has crossed above its 160-day simple moving average, a Golden Cross that marks the end of the coin's capitulation phase. ETH trades at $1,939 with ETF inflows, whale wallets and rising staking totals lined up behind the signal. Bulls now need to hold the $1,850–$1,900 zone to keep the setup intact.
The daily Market Value to Realized Value (MVRV) ratio of Ethereum has crossed above its 160-day Simple Moving Average, a move known as a Golden Cross. It signals the end of ETH's capitulation phase and the beginning of a bullish reversal.
Past Golden Crosses preceded ETH gains of 50% to 166%
Over the past three years, a Golden Cross preceded major ETH recoveries as the accumulation regime overpowered distribution. Those setups appeared in early 2023, late 2023–Q1 2024, Q2 2024 and Q3 2024, when ETH surged 50%, 166%, 74% and 113% respectively.
ETF inflows and whale wallets back the on-chain signal
Data also reveals renewed institutional engagement. The past week marked the third consecutive week of spot Ethereum ETF inflows, bringing in $103.9 million and lifting July's total net inflows to $337.74 million.
In the same week, Bitmine, the largest public Ethereum treasury firm, purchased over 9,900 ETH. That contributed to the coin's 27% hike over the past month.
Whales have been accumulating the asset since June. Mid-tier whale wallets holding 1,000 to 10,000 ETH increased from 4,750 in June to 4,850 by late July. Mega-whale wallets holding over 100,000 ETH collectively hold 17.41 million ETH, over 22% of the total circulating supply.
Staking points the same way. The amount of ETH staked has risen from 63 billion on July 1 to a present 77 billion, indicating positive sentiment in the network. Ethereum buy demand has also been outpacing Bitcoin's over the past month, as shown by the rising ETH/BTC ratio.
Bulls must defend $1,850 to keep the cross alive
ETH is up 0.85% in the past 24 hours, wiping out over $100 million in short liquidations and bringing its current price to $1,939.
To maintain the Golden Cross, bulls need to defend the $1,850 – $1,900 demand zone. Further reclamation of prices above the 200-day MA at $2,134 is necessary to confirm a true macro trend reversal, which would also open the way to the $2,300 resistance zone.
Fed and the CLARITY Act vote sit in the path
Key events that could impact the near-term price of Ethereum include the upcoming Fed rates announcement. Others are the tentative Senate floor vote on the CLARITY Act on August 3 and the Middle East conflict.
Source: Coinpedia Fintech News
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