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

Profile picture
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

There’s more of this Insight

Choose your subscription plan

Sanbase PRO

Unlock all PRO insights

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?
insight card
signal form

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!

Assets from this insight

Ethereum logo


$ 1215.43

4.77%in last 7d