ETH Pulls Back Again: Here's What to Look For

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Ibis
Dec 9, 2020

With today’s market-wide pullback, all eyes are once again peeled on the top 2 coins by market cap and their near-term potential. Another bear trap or a sign of things to come?


Let's check in on the coin's latest fundamentals, including its on-chain and social activity data - all available on Sanbase Pro.


With ETH’s latest drop into the mid-$500s, early signs of holder anxiety may be emerging in the coin’s on-chain data. As expected, Ethereum’s 1hr exchange inflow has been on a sharp uptick since the price drop, with more than 52400 ETH just moving to known exchange wallets - a week high:

ETH, 1hr exchange inflow, past month (Source: Sanbase)

This type of rise in exchange-bound activity has a tendency to signal short-term capitulation and ‘weak hand’ exodus, as ETH holders become increasingly worried about a sustained

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Assets from this insight

Ethereum logo

EthereumETH

$ 1218.59

4.53%in last 7d
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