Ethereum has entered a historically strong accumulation zone, but its daily chart still shows a broader bearish structure. The next move depends on whether ETH can break through resistance or falls back toward lower support.
Ethereum Enters Deep Accumulation Zone as MVRV Falls Below 0.8
Ethereum has moved into a historically rare accumulation zone after its market value-to-realized value ratio dropped below 0.8, according to analyst Ali Charts.
ETH MVRV chart. Source: Ali Charts/X
The chart shows that ETH previously reached this level in December 2018, March 2020 and June 2022. Each period came near a major market bottom before a broader recovery.
An MVRV ratio below 1 means the market value sits below the average realized value of held ETH. A reading below 0.8 suggests deeper losses across the market and possible seller exhaustion.
The setup supports a long-term bullish case, but it does not confirm an immediate reversal. ETH could remain under pressure before buyers regain control.
Ethereum Bounce Faces Key Test as Bears Stay in Control
Ethereum is testing its first major resistance zone after recovering from the June low, but the broader chart still points to a corrective bounce rather than a confirmed trend reversal.
ETH daily chart. Source: More Crypto Online/X
The chart places resistance at $1,815, followed by $1,926, $2,045 and $2,226. A move through these levels could extend the recovery, although the current structure still appears corrective.
The bearish outlook remains in place while ETH stays below the main resistance cluster. Another decline could bring $1,550 and $1,400 back into focus, with deeper support near $1,060 and $900.
For now, Ethereum can continue higher in the short term. However, without a decisive resistance breakout, the chart still favors another move lower later in July or August.
