4 reasons why I'm worried about Ethereum's latest rally
- Despite a strong start to the week, ETH's on-chain and social activity are starting to flash a number of concerning that could interfere with the coin's rally
- Assets covered: ETH
- Metrics used: Social volume, Social sentiment, Exchange inflow, Percent of ETH on exchanges, Age consumed, Mean dollar invested age, ETH miner balance, ETH holder distribution, ETH's 30d and 365d MVRV
After trading sideways for almost two months straight, Ethereum finally managed to break above its stubborn consolidation pattern, gaining +31.3% in the past 5 days and hovering at a year-high $321.8 at the time of writing.
The rally has felt long overdue for the second largest coin given the swarm of DeFi-related pumps and has even surprised BTC at first, reducing the top coin’s market dominance to its lowest point since
There’s more of this Insight
Choose your subscription plan
Years of market experience, compressed in each report
Since 2017, Santiment has been an industry leader in on-chain data, social intelligence and behavior-based analysis of the crypto market.
Our tools have a proven track record of timing price tops for cryptocurrencies, helping traders find profitable exit points and mitigate HODLing risk.
Our previous TOP calls:WAVES crowd sentiment patternMATIC charts a new ATH: is the top in?ICX insanity. How far could it go?
What you get with Sanbase Pro:
- Members-only daily market insights and analysis
- 30+ on-chain, social & project indicators for 900 cryptocurrencies
- Custom alerts for the coins' price, on-chain & social trends
- Santiment Spreadsheet plugin with 10+ pre-made market templates
- Personalized asset watchlists and weekly performance reports
Gain unfair advantage with Sanbase Pro
Subscribe to Sanbase Pro for access to exclusive insights, market-beating metrics, strategies and templates!