Analyst Ali Martinez stated on August 6 that Ethereum could target $3,000 after breaking above its 0.8 MVRV level near $1,800. This technical breakout, corresponding to a zone where ETH historically transitioned from weakness to recovery phases, was confirmed with support reclaimed. A golden cross of MVRV Momentum formed and according to the analyst, similar past signals led to gains of 50%, 166%, 74%, and 113%. ETH was trading around $1,900 at the time of the article, up 1.6% in 24 hours and nearly 7% over 30 days, but still down more than 47% year-over-year and approximately 62% below its all-time high near $4,950.
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