ETH MVRV Hits 2.15 as Altcoin Market Cap Eyes $1.05T Breakout Level for Q4 Rally

Ethereum’s on-chain data (MVRV ratio) shows holders remain strong despite recent price volatility Total altcoin market cap is compressing in a bullish pattern below a key $1.05 trillion resistance Analysts believe the next major altcoin rally hinges on a new wave of institutional ETF products After a volatile August, the crypto market’s attention is shifting to the fourth quarter. Ethereum’s sharp 6% decline in the past 24 hours to near $4,400 has injected fear into the market, but zooming out reveals a different ￰0￱ Ethereum’s 6% drop be of concern? According to analyst Crypto Rand , ETH has surged over 220% in just four months, from $1,500 to nearly $5,000, an impressive +220% ￰1￱ argues the recent rejection from the 2024 resistance zone, a level ETH has tested over seven times, is not a sign of structural weakness “Nothing critical… we just breached into new local highs breaching the strong resistance from 2024,” he noted, adding that on higher timeframes, the market remains firmly bullish.