MVRV Indicator Suggests Potential Cycle Peak, Analyst Says..

Analysts say that the MVRV index indicates a potential peak of the cycle.
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According to Foresight News, CryptoQuant analyst Yonsei_dent has highlighted the MVRV indicator as pointing to a potential cycle peak. The analyst noted that in 2021, the MVRV 365-day moving average (DMA) formed a double-top camel pattern before the onset of a bear market. Six months later, another peak emerged, which marked a significant turning point.
According to Foresight News, CryptoQuant analyst Younsi_Dent pointed out that the MVRV indicator suggests a potential cycle peak. The analyst noted that in 2021, the 365-day moving average MVRV formed a double top pattern before the onset of a bear market. Six months later, another peak emerged, representing an important turning point.

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