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ETH Analysts: Ethereum is expected to challenge US$3000 after breaking through key chain indicators.
Cryptocurrency analyst Ali Martinez said on August 6 that Ethereum has recently broken through an important MVRV pricing level, which may open the way for prices to hit the US$3000 target. The market watcher's view is based on historical on-chain patterns-patterns that had previously appeared before Ethereum's sharp rebound, although resistance levels remained.
Ethereum recovers MVRV levels, analysts focus on $3000 target
"Ethereum is moving towards $3000," Martinez announced in a post posted on the X platform. He pointed out that the asset turned bullish after breaking through the 0.8 MVRV pricing range around $1800, explaining that this level has historically served as a key node for Ethereum to enter recovery from weakness. The breakthrough came after his previous July 6 post-when he determined that $1800 was the key level Ethereum needed to break through. At that time, ETH was testing this area as a resistance level. If the daily closing price can be stabilized, it is expected to increase the possibility of moving towards a realized price.
In a post on August 6, Martinez confirmed that the world's second-largest cryptocurrency has since regained MVRV as a support level. According to him, similar recovery trends over the past six years have often pushed Ethereum to or above its realized price (currently close to $2300). He also pointed out that a golden cross for MVRV momentum was formed after the ETH recovery. After such signals appeared before, gains were followed by 50%, 166%, 74% and 113%, respectively. The indicator compares the earnings of Ethereum holders with its 160-day moving average, allowing analysts to track the transition between the selling period and the recovery period.
As of press time, Ethereum was trading at approximately $1900, up 1.6% in the past 24 hours. The cumulative increase in the past 30 days has been nearly 7%, but it is still down more than 47% from the same period last year. ETH hit an all-time high of about $4950 in August 2025 and is still about 62% below that level. Martinez believes that if buying pressure continues, the $3000 area will be the next major target. The analyst cited on-chain trading data as pointing out that more than 10 million ETH units had changed hands near this price, making it an important resistance area.
Markets focus on Ethereum's breakthrough attempt
Other traders are also focusing on Ethereum's recovery. Trader Ted Pillows said that after experiencing an 18.5% gain in July, if Ethereum can hold on to the $1800 zone, it may move towards $2000, adding that the emergence of spot buying activity is a positive sign. Michaël van de Poppe also said that holding on to $1800 could push prices above $2000 and then towards $2300.
Some traders believe a stronger trend for Ethereum could improve overall market sentiment and could affect the next stage of the altcoin-but it depends on whether Ethereum can continue to break through resistance. For now, Martinez's $3000 forecast relies on ETH to maintain its MVRV breakthrough and continue the pattern that emerged in previous cycles. According to him, the next area traders should focus on is around $1980 to $2080, followed by the $2773 area mentioned in his previous update.
