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

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