Ethereum’s Market Value to Realized Value (MVRV) metric is approaching a critical resistance level that has capped its trajectory for seven consecutive years, signaling a potential inflection point for ETH’s market dynamics. This long-term technical barrier, established since 2018, now faces renewed pressure amid substantial institutional inflows and shifting investor behavior.
Spot Ethereum ETF inflows and institutional accumulation have driven ETH’s price up 184% in recent weeks, providing sustained upward momentum. While the MVRV resistance historically precedes price consolidations, analyst observations note ETH currently maintains position above the crucial SMA365 support line despite localized profit-taking activity.
Complementing institutional interest, the Ethereum network experienced a 61% surge in new wallet creation over a four-day period, indicating accelerating retail participation. This convergence of institutional and retail demand forms a key catalyst for the recent price appreciation.
Market analysts highlight that a decisive break above the enduring MVRV resistance could fundamentally alter Ethereum’s market structure, potentially transitioning it into a new phase of price discovery. Technical resilience remains supported by persistent demand, though the sustainability of this momentum hinges on overcoming the multi-year resistance barrier.