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Ethereum's Correlation with Nasdaq Improves as Altcoin Maintains Recovery

The correlation between Ethereum (ETH) and the Nasdaq index has improved, although it remains negative. ETH has been outperforming the Nasdaq equity index, and its recent recovery may be contributing to the closer correlation.

ETH's Market Value to Realized Value (MVRV) ratio has also improved, indicating that holders have seen some recovery.

Technical indicators suggest that ETH may continue its bullish streak, with the Moving Average Convergence Divergence (MACD) showing a potential overthrow of seller dominance and the Chaikin Money Flow (CMF) indicating more accumulation and strength backing the uptick.

Ethereum Ethereum $3,314.29
-5.77%
Ethereum
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