Ethereum Breaks Above Key Threshold, Targets $3K Before Month Close

Ethereum (ETH) is on an upward trend after breaking above its MVRV 0.8 Pricing Band at $1,800, a threshold that has historically marked significant shifts in momentum.

The next destination for ETH would be near $2,300, with $3,000 being the key level to reach before month's close.

A golden cross formation on the MVRV Momentum chart is adding weight to the bullish case, with previous signals of this kind resulting in rallies of 50%, 166%, 74%, and 113% respectively.