Ethereum Surges Above $1,800, $3K Target Within Reach

Ethereum is currently trading at $1,914, up by 2.47% from its previous price, with a significant increase in trading volume of 20% to $9.64 billion.

The asset has broken above the MVRV 0.8 Pricing Band at $1,800, which historically marks meaningful shifts in momentum.

With over 10 million ETH previously changing hands around the $3,000 level, this becomes a crucial resistance zone on the chart.

Ethereum has formed an MVRV Momentum golden cross, a signal that has been followed by rallies of 50%, 166%, 74%, and 113% in previous instances.