Ethereum sits near $2,335 on a primary market cost basis, and a clean recovery could support a broader move towards the $5,600 MVRV band. However, another Wyckoff diagram warns: $ETH It may first gain liquidity around $2,400-$2,450 before falling.
Ethereum price tests $2,335 support, $5,600 target in sight
According to the MVRV price range chart shared by Ali Charts, Ethereum is trying to regain the realized price near $2,335 as support.
The chart shows that $ETH After recovering from the lower blue band near $1,868, it is trading near the green realized price band. This area is important because realized prices reflect the average cost base of the market. when $ETH If it trades above that and holds that level, buyers typically gain a stronger base for a broader move.
$ETH MVRV price range. sauce: X ant chart
Ali Chart said a successful recovery of $2,335 is the standard technical condition for a sustained rally. the chart shows that $ETH After recovering this level, we were previously building a stronger upward movement. However, if it fails to hold, the price will remain exposed to the lower MVRV band around $1,868.
The next major rising band is around $5,604, marked by the 2.4 MVRV level. There’s no meaning on that level. $ETH I’ll move there soon. Instead, it shows the next major valuation zone if Ethereum turns the realized price into support and maintains its momentum.
The red band above is near $7,473 and the black line tracks it $ETHThis is the market price. For now, the chart’s main focus is on: $ETH You can stay above the green band.
Ethereum needs continued strength above $2,335 to support a bullish setup. If buyers defend that level, the $5,600 MVRV band will be the main top target. if $ETH Losing it will weaken the chart and bring the focus back to the $1,868 band.
Ethereum Wyckoff Setup Signals Gaining Liquidity Before Drop
According to a chart shared by Mr. Crypto, Ethereum is approaching a possible UTAD stage with a Wyckoff distribution setup.
The chart shows that $ETH Coinbase’s 6-hour chart shows the price moving within a distribution structure after the April recovery. This setup maps Ethereum against the classical Wyckoff model. In this model, price first builds a range, tests resistance, and then catches late buyers before falling significantly. ”
$ETH 6H Wyckoff distribution map. sauce: mr crypto on x
mr crypt said $ETH We may soon enter the UTAD phase, also known as the post-distribution upswing phase. In this setup, the price rises above the range and gains upside liquidity before losing strength.
The projected path looks like this $ETH The price is moving towards the upper resistance area around $2,400 to $2,450. The chart then shows a sharp reversal within the range.
Once the pattern is executed, $ETH The price may fall below the support zone around $2,275 to $2,300. The chart then shows a deeper downside path towards the $2,050 area.
However, the setup depends on $ETH Failure after obtaining liquidity. A strong hold above the upside resistance area will weaken the Wyckoff distribution case.
For now, the chart continues to focus primarily on the next move near resistance. $ETH You need to avoid rejection after the price increases, or the seller may take control again.
