以太坊价格下跌：看涨马拉松中的暂时减速

MDIA 和 MCA 指标表明，以太坊（ETH）仍低于其周期顶部，并且具有更大的上涨潜力。尽管最近价格下跌，但长期持有者仍然对 ETH 的看涨未来充满信心，低流通速度以及不断上升的 MDIA 和 MCA 值就表明了这一点。显示潜在买入机会的 MVRV 比率也支持这一观点，表明与之前的牛市周期相比，ETH 目前被低估。

Ethereum's Price Drop: A Temporary Setback in a Bullish Long-Term Trend

以太坊价格下跌：看涨长期趋势中的暂时挫折

Despite the recent decline in Ethereum's [ETH] price from its all-time high of $4,200 to $3,445, industry analysts and long-term market participants remain optimistic about the cryptocurrency's future prospects.

尽管以太坊 [ETH] 价格最近从历史高点 4,200 美元下跌至 3,445 美元，但行业分析师和长期市场参与者仍然对加密货币的未来前景持乐观态度。

Velocity Analysis Indicates Long-Term Holding

速度分析表明长期持有

According to an analysis conducted by AMBCrypto, Ethereum's velocity, which measures the rate at which coins are circulating in the crypto economy, has declined significantly. This suggests that long-term holders of ETH are not selling their holdings, which has prevented a more severe price drop.

根据 AMBCrypto 进行的分析，以太坊的流通速度（衡量代币在加密经济中流通的速度）已大幅下降。这表明 ETH 的长期持有者并没有出售其持有的资产，这阻止了价格更严重的下跌。

Mean Coin Age and Mean Dollar Invested Age Point to Accumulation

平均代币年龄和平均美元投资年龄指向积累

Two other metrics, the Mean Coin Age (MCA) and the Mean Dollar Invested Age (MDIA), provide further support for the bullish outlook. The MCA, which represents the average purchase age of ETH, has been increasing recently, indicating that investors are holding the cryptocurrency for longer periods. The MDIA, which represents the average investment into ETH at any given time, has also increased, suggesting that accumulation is occurring at current price levels.

另外两个指标，平均代币年龄（MCA）和平均美元投资年龄（MDIA），为看涨前景提供了进一步支持。代表 ETH 平均购买年龄的 MCA 最近一直在增长，表明投资者持有加密货币的时间更长。 MDIA（代表任何特定时间对 ETH 的平均投资）也有所增加，表明当前价格水平正在发生积累。

Historically Positive Signals

历史上的积极信号

Historically, when the MCA and MDIA have both increased, it has been a reliable indicator that Ethereum's price has not yet reached its peak. This suggests that the recent price drop may present a buying opportunity for investors who believe in the long-term growth potential of ETH.

从历史上看，当MCA和MDIA双双上涨时，它一直是以太坊价格尚未达到顶峰的可靠指标。这表明最近的价格下跌可能为相信 ETH 长期增长潜力的投资者提供了买入机会。

Market Value to Realized Value Ratio Supports Accumulation

市场价值与已实现价值的比率支持积累

The Market Value to Realized Value (MVRV) ratio, which measures whether a cryptocurrency is undervalued, overvalued, or fairly valued, currently stands at -1.573%. This indicates that investors who sell their ETH now would incur an average loss of 1.573%. Historically, such a low MVRV ratio has been associated with accumulation opportunities, as it suggests that the cryptocurrency is still significantly below its potential value.

衡量加密货币是否被低估、高估或合理估值的市场价值与已实现价值 (MVRV) 比率目前为 -1.573%。这意味着现在出售 ETH 的投资者将平均损失 1.573%。从历史上看，如此低的 MVRV 比率与积累机会有关，因为它表明加密货币仍远低于其潜在价值。

Historical Reference and Future Potential

历史借鉴与未来潜力

In previous bull cycles, ETH has typically reached price peaks with an MVRV ratio well over 40%. This suggests that the current MVRV ratio of -1.573% indicates that ETH has not yet reached its full potential in the current cycle. If historical patterns hold, ETH could potentially reach five figures before the bull market concludes.

在之前的牛市周期中，ETH 通常会达到价格峰值，MVRV 比率远超 40%。这表明当前 MVRV 比率为-1.573%，表明 ETH 在当前周期中尚未充分发挥其潜力。如果历史模式成立，ETH 可能会在牛市结束前达到五位数。

Conclusion

结论

While the recent price decline in Ethereum may have caused some short-term uncertainty, the analysis of key metrics such as velocity, MCA, MDIA, and MVRV ratio suggests that the cryptocurrency remains in a bullish long-term trend. Long-term holders are holding their ETH, accumulation is occurring at current price levels, and the MVRV ratio indicates significant potential for future growth. Therefore, investors who believe in the long-term value proposition of Ethereum may consider the recent price dip as a buying opportunity.

虽然以太坊最近的价格下跌可能造成了一些短期不确定性，但对速度、MCA、MDIA 和 MVRV 比率等关键指标的分析表明，加密货币仍处于看涨的长期趋势。长期持有者持有 ETH，以当前价格水平进行积累，MVRV 比率表明未来增长潜力巨大。因此，相信以太坊长期价值主张的投资者可能会将近期的价格下跌视为买入机会。