Dear bulls and dear bears,
We have something for each of you, to support your take on the market.
We are seeing some patterns emerging now, for example on Lido:
It's in the process of building the top, in the final stage of divergences. Divergence in network activity and in network growth:
Price remains on top, however active addresses and network growth are down.
This is usually a bearish sign, a well known pattern.
Building a top can take time. You never know the timing of top building. No one knows.
The good news is MVRV is not over. It's below dangerous 'overbought' level for a number of assets. Examples below.
We could also assume that some tokens are done, some not yet. We'll see it soon.
As we've done in previous weeks, we're continuing to keep an eye on which projects are seeing notable movement from their respective whale addresses. Watching which assets are seeing a growing amount of addresses worth $100,000 or more can give a great indication into future price pumps and dumps.
Below, we've listed three projects with notable rises in whale numbers, as well as three with notable drops:
⬆️ Increasing Number of Whale Address
⬇️ Decreasing Number of Whale Address
Yearn Finance ($YFI)