A few possible roadblocks on Ether's way up
Assets covered: Ethereum (ETH)
Metrics used: Active Addresses, Trading volume, Social volume, Weighted Social Sentiment, MVRV, Exchange Inflow, Funding Rate, Network Realized Profit/Loss
TLDR: Out of metrics we've been looking at pretty much of them are concerning.
Ethereum is breaking another ATH. Rising dominance against Bitcoin is continuing to range. Sure BTC has recovered slightly but it's definitely falling behind. And it's also about alts. A lot of alts are ranging. So it seems it's really a time for ETH to shine.
Are the active addresses growing? No they are not! The price seems to be growing into a declining network activity.
What are the other sorts of volumes looking like?
A decline is pretty clear. A peak was on Friday dump, redistribution taking place.
It's actually almost staying flat, may be
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