Ethereum MVRV Ratio Signals Undervaluation As Analysts Warn Of Possible 40% Price Decline

On-chain metrics indicate that Ethereum is moving into an undervalued zone, with CryptoQuant analyst Burak Kesmeci highlighting an MVRV ratio of 0.9 as a sign that ETH is becoming relatively cheap. However, Kesmeci also points to the Realized Price Bands, suggesting Ethereum could still fall over 40% toward the lower band around $1,152 before the bear phase concludes. At the same time, prediction market data shows rising odds that ETH could lose its position as the second-largest crypto asset by market cap, even as its price trades near $2,090 with a valuation above $253.1 billion.