Ethereum: can we break $420?
Assets covered: Ethereum ETH
Metrics used: Social Volume, Weighted Social Sentiment, Miners Balance, Daily Active Deposits, Exchange Inflow, Active Addresses 24h, Daily Average Fees, Transaction Volume, Dormant Circulation, Mean Coin Age, Mean Dollar Invested Age, DEX Trading Volume, MVRV, Holders Distribution
Summary: Ethereum shows a mixed bag of signals, mostly bullish. There is a couple of metrics capable to indicate possible next moves, one is Transaction Volume.
Being in top Emerging Trends usually is not good for token price action, as we discovered earlier. ETH is in the list. Let's try to find out it's chances to break $420.
The bad news are we are seeing a spike in Social Volume:
These spikes can earmark both local tops and local bottoms. But the fact that we are seeing a spike in SV alongside the rally is a concerning
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:
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!