Ethereum MVRV Ratio Triggers Death Cross Signal After Previous 60% Drop

On-chain data show the Ethereum MVRV Ratio has formed a death cross, a bearish signal that previously preceded a drop from $3,300 to $1,400. Analyst Ali Martinez highlighted the crossover between the ratio and its 160-day moving average. Ethereum is currently trading near $4,000, down 2% over the past week.