This Ethereum Metric Is Retesting The Bear-Bull Junction, Will Break Happen?

On-chain data shows the Ethereum MVRV ratio is currently testing a level that has historically served as the boundary between bear and bull markets.
Ethereum MVRV Ratio Is Retesting Its 180-Day SMA Right Now
The “Market Value to Realized Value (MVRV) ratio” is an indicator that measures the ratio between the Ethereum market cap and realized cap. The former is naturally just the total supply valuation at its spot price. At the same time, the latter is an on-chain capitalization model