Crypto:
30188
Bitcoin:
$68.069
% 1.27
BTC Dominance:
%54.4
% 0.13
Market Cap:
$2.44 T
% 3.67
Fear & Greed:
74 / 100
Bitcoin:
$ 68.069
BTC Dominance:
% 54.4
Market Cap:
$2.44 T

Ethereum Investors Beware!

Ethereum

CryptoQuant analyst points out that Ethereum futures traders are selling aggressively.

Bitcoin, Ethereum, and altcoins have been on the decline ahead of the US inflation data and FED interest rate decision to be announced tomorrow.

At this point, while ETH has gone down to $3,530, the selling pressure on ETH prices may increase further.

The CryptoQuant analyst, who stated that Ethereum futures traders are selling aggressively, shared a chart showing the 7-day moving average of the Buyer Sell Ratio, which measures the actions of buyers against sellers.

According to this chart, a value above one indicates buyer dominance, while a value below one indicates aggressive selling. The analyst, stating that the value is currently below one, meaning that sellers are dominant in the market, said that this chart shows that the majority of futures traders are aggressively selling Ethereum for speculative purposes or to make a profit.

The analyst, who stated that this chart shows that the majority of futures traders are aggressively selling Ethereum for speculative purposes or to make a profit, stated that this is a bearish signal for ETH.

“As Ethereum’s price tries to break above $4,000, investors should follow the behavior of futures market participants.

The chart shows the 7-day moving average of the Buyer Sell Ratio, which assesses its relative aggressiveness against sellers.

A value above one indicates buyer dominance, while a value below one indicates aggressive selling.

As can be seen from the chart, the ratio could not rise above one and has been falling rapidly in recent days.

This trend shows that the majority of futures traders are aggressively selling Ethereum for speculative purposes or to make a profit.

READ:  What is PlayDapp (PLA) ? What Does It Do?

This significant decline in the metric is a bearish trend signal for ETH, suggesting that the current downward reversal could continue if this trend persists.”

For the latest news, don’t forget to follow Coin Engineer News by clicking here

Rate this post

Leave a Reply

Your email address will not be published. Required fields are marked *