Ethereum's Price: Can ETH Defy Gravity and Break Through Key Resistance?

Ethereum's Price Gains Momentum, Can ETH Break Through Key Resistance?

Ethereum (ETH) is at a critical juncture, with its Market Value to Realized Value (MVRV) ratio recently falling below the 160-day moving average. Historically, this metric has acted as a leading indicator of price corrections, with the most notable instance occurring on 23 June 2024, when ETH recorded a steep 40% decline, dropping from $3,500 to $2,100 on the charts.

The ongoing scenario means that ETH could face similar bearish pressure, prompting traders to remain vigilant for possible volatility in the short term. However, Ethereum's critical support range lies between $2,230 and $2,610, where approximately 11.99 million wallets hold 62.27 million ETH. This area serves as a major accumulation zone, potentially acting as a price floor in the event of further declines.

If the altcoin tests this level, it may bounce back due to strong buy interest or break through if selling pressure intensifies. Historically, ETH has shown resilience around such accumulation zones, making this a crucial price range for traders to monitor. Should ETH maintain support within this zone, it could create a foundation for future bullish momentum.

Ethereum has formed falling wedge patterns in 2021, 2024, and now in 2025, which is a bullish technical indicator. Falling wedges often precede significant price movements, hinting at a potential upside breakout once consolidation ends. While short-term bearish pressure has been present, ETH's past behavior within these patterns indicates that a rally could follow.

With ETH facing short-term bearish signals due to the MVRV ratio, much effort can be put where it interacts with key support levels. A sustained hold above $2,230–$2,610 could signal strength, while a break below may lead to further declines. However, the presence of a falling wedge pattern does allude to a possible bullish reversal in the long run.

At press time, ETH reflected a delicate balance between short-term caution and long-term optimism. While the MVRV ratio indicated potential downside risks, the historical significance