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$ETH ON-CHAIN WARNING ZONE
Ethereum is sitting on critical on-chain support.
Three key metrics are being stress-tested 👇
→ MVRV Z-Score
→ Market Cap Growth
→ Delta Growth
If These break, it signals speculative money exiting, Raising the risk of #ETH slipping below $2K as supply rises and demand weakens into 2025.
On-chain structure is Fragile. This level matters.