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Ethereum's MVRV golden cross sparks 34% rally, eyeing $5,000 if key resistance breaks

Technical Signals
23 Aug 2026
Blockonomi
View Source
Bullish
Ethereum's MVRV golden cross sparks 34% rally, eyeing $5,000 if key resistance breaks

Ethereum's MVRV ratio formed a golden cross on August 19, triggering a 34% price surge from $1,905 to $2,547. Whale wallets holding over 10,000 ETH increased by 1.74%, with 17 new large holders joining, indicating strong buying interest. Additionally, over 180,000 ETH worth $440 million moved off exchanges, reducing selling pressure. Ethereum faces a critical resistance zone between $2,722 and $2,970; breaking this could open the path to a $5,363 target, making a $5,000 price feasible in the near term if momentum continues.

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