NUPL & MVRV Reach Crucial Levels: Ethereum (ETH) On-Chain Analysis

2021-12-27 11:47

In this article, BeInCrypto will take a look at on-chain indicators for Ethereum (ETH), more specifically Net Unrealized Profit/Loss (NUPL) and Market Value To Realized Value (MVRV).

NUPL

NUPL is and indicator that divides unrealized profits with unrealized losses. It measures the hypothetical profit/loss for investors if all coins were to be sold at the current time.

The indicator reached a yearly high of 0.77 in January (black circle) This can be seen as a sign of an overheated market.

Afterwards, it fell twice below the 0.5 threshold (red circles), which at the time was seen as a sign of weakness, since it indicated a weakening trend.

Chart By Glassnode

Previously, decreases below the 0.5 levels (black circles) have marked the end of the bull run. Therefore, it is crucial that the indicator manages to hold on above this level. 

Chart By Glassnode MVRV

MVRV is an indicator that simply measures the ratio between the market and realized capitalization levels. It is used to determine if an asset is priced near its fair value. 

High readings can be considered signs of tops, indicating that the market is overbought. Similarly, low readings can be considered signs of bottoms, showing an oversold market.

Historically, the 1.9 level seems to have acted as support for ETH. This was the case in July and Sept 2017, since both the indicator and price bounced after a low close to 1.9 was reached (black circles). Therefore, the reading was associated with a local low prior to the continuation of the upward movement. 

Afterwards, the level acted as resistance on Aug 2020, before turning to support afterwards (black line). There is a significant deviation on July 2021, but the level was reclaimed shortly afterwards. 

Currently, MVRV is trading just above this level and could potentially initiate a bounce. 

Similarly to the 0.5 level in the NUPL, the 1.9 level in MVRV is very significant, and it is crucial that ETH stays above it for the bullish trend to remain intact.

Chart By Glassnode

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here

The post NUPL & MVRV Reach Crucial Levels: Ethereum (ETH) On-Chain Analysis appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3505.53 (+0.09%)
Объем 24H $7.273b
Изменеия 24h: 0.21 %, 7d: -1.51 %
Cегодня L: $3494.02 - H: $3508.77
Капитализация $428.643b Rank 2
Цена в час новости $ 4062.1 (-13.7%)

on-chain eth nupl mvrv ethereum indicators beincrypto

Источник: beincrypto.com

on-chain eth → Результатов: 107


Фото:

The Number of Ethereum Exchange Withdrawals Hits a One-Year Low

There has been a marked drop in Ethereum-related activities on various crypto exchanges in the last week. On Monday, November the 20th, on-chain data from leading blockchain data and intelligence provider, Glassnode, indicated that the seven-day moving average of Ethereum (ETH) withdrawals from exchanges such as Coinbase and Kraken, had plummeted to a one-year lowRead More

2021-12-22 02:00


На Kraken поступили 35 000 ETH от Ethereum Foundation перед падением рынка

Организация Ethereum Foundation, курирующая развитие второй крупнейшей криптовалюты, совершила крупный перевод ETH на биржу Kraken, отмечает 8btc. According to on-chain data, at 15:47 on May 17, #Ethereum Foundation address (0xDE0B2) transferred 35,053 #ETH to the address starting at 0x5A70C5 and then to the Kraken at 15:48, which was worth about $115 million at the time. pic.twitter.com/cTQkp5G1AS […]

2021-5-21 13:44


Ethereum Flips Bitcoin in Value Settlement Terms

The milestone move was noted by Ethereum advocate and Mythos Capital founder Ryan Sean Adams who posted a CoinMetrics chart comparing adjusted value on-chain transfers for the two assets. Both Bitcoin and Ethereum saw their transfer values spike in January 2021 as new all-time highs were hit, but ETH has now flipped its big brother … Continued The post Ethereum Flips Bitcoin in Value Settlement Terms appeared first on BeInCrypto.

2021-2-10 10:46


Фото:

Ethereum Could Form a Massively Bullish Pattern if Bulls Defend Key Level

Ethereum saw an incredibly intense decline yesterday that sent its price plunging to fresh multi-week lows This selloff came about in tandem with the flash crash seen by the entire altcoin market, which may have come about due to XRP’s 50%+ one-day decline Other major altcoins – like Chainlink – posted massive losses that resulted in deep downwards wicks on their candle charts, likely due to on-chain short liquidations ETH is now in the process […]

2020-12-27 01:00


Фото:

Over 1.5% of Entire Ethereum Supply Staked on ETH 2.0

Three weeks after it was launched, the Beacon Chain now holds almost 1. 6% of the entire supply of Ethereum, worth an estimated $1. 1 billion at current prices. According to the latest ‘Week On-Chain’ insight report from analytics provider Glassnode, the amount of Ethereum staked on the Beacon Chain, which launched smoothly three weeks ago, is … Continued The post Over 1.

2020-12-22 10:08


Could an Ethereum Miner Dump Drive ETH Prices Lower?

Bitcoin has been firmly in the driving seat over the past couple of weeks and recent on-chain analytics suggests that things could get worse for crypto’s number two, Ethereum. Analytics and blockchain data firm Santiment has been delving into some on-chain metrics for Ethereum, which is still at the heart of DeFi, and they’re not […] The post Could an Ethereum Miner Dump Drive ETH Prices Lower? appeared first on BeInCrypto.

2020-10-28 18:45


Фото:

Analytics Firm: One On-Chain Metric is Flashing Warning Signs for Ethereum

Ethereum’s price action has been slightly underperforming that of Bitcoin as of late The cryptocurrency has remained stuck beneath its crucial resistance level at $380, which points to some weakness amongst buyers Until this level is surmounted and ETH can regain its foothold within the $400 region, it may remain somewhat technically weak One fundamental metric seems to indicate that ETH is also plagued by some underlying weakness is its daily active address count This […]

2020-10-13 23:00


дальше еще 58 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru