Ethereum Bulls Eye Bullish Crossover as Price Rises 16%
Ethereum (ETH) has seen a significant price increase over the past month, rising by 16%. Analyst Ali Martinez believes that this surge may be indicative of a potentially bullish signal for the token's performance and market recovery in the crypto space.
Martinez found that ETH's MVRV ratio is nearing a bullish crossover above its 160-day simple moving average (SMA). This technical setup has historically preceded strong price recoveries, according to Martinez. The current MVRV ratio stands at a level that suggests this crossover may be imminent.
The Ethereum market capitalization currently sits at $2.29 trillion, with a 24-hour spot volume of $25.22 billion, indicating significant trading activity in the token. ETH's gas price is currently at 0.11 Gwei as of July 23rd, 2026.