Ethereum Remains Bullish Even as Momentum Slows

Current Market Status: Ethereum (ETH) is consolidating around $3,886 after a pullback from $4,000, remaining well above its Realized Price of $2,318, indicating that most holders are in profit.

Market Confidence: The MVRV Ratio stands at 1.67, suggesting a healthy market where investors are up 67% on average, with no signs of euphoria, as spot inflows have slowed but holders are not rushing to sell.

Consolidation Phase: Recent data indicates that ETH's rejection of the upper Realized Price Band near $5,300 marks a cooling phase rather than a trend reversal, with the market showing resilience and continued long-term accumulation.

Outlook: As long as ETH remains above the $2.3K Realized Price, the bullish market structure is intact, and the current pullback is viewed as a natural digestion phase, setting the stage for potential upward movement.