Bearish

If we look into Ethereum itself, we might see massive divergencies across many metrics.

All above are red flags suggesting a dump. Divergencies quite massive all over the board, we might need to dive deep to reset it.

Bullish

There is a reaction from holders that are probably scared by recent negative news - stablecoin dolphins and sharks:

And also some increased onchain activity on a number of altcoins forming a positive bullish divergence. For example, UNI:

The period of increased volatility is here. What's your bet?

Charts:

• https://app.santiment.net/s/T7TdW5sU
• https://app.santiment.net/s/VjRdF3dw
• https://app.santiment.net/s/9GPBn6Ed
• https://app.santiment.net/s/PxYWp6sC

The events following a short period a depression have increased network activity quite impressively. See the chart layout below. Here's just one example, YFI:

There are differences. For instance, REN:

REN is not picking up so strong because of it's complicated financial situation.

UNI:

UNI experienced a strong growth before, when there was an NFT marketplace announced. But still, we can see it's growing strongly, even compared with NFT related pump.

Each token has it's own story. It's own specific story which makes the difference. But many have a common pattern, it's network activity increasing quite a lot.

We might follow up in few days with more detailed market overview, for now just seeing massively increased network activity on many tokens. Therefore, networks awake.

Chart layout: https://app.santiment.net/s/_Qz39fm9