Crypto NewsAnalysisEvaluating the Fall in Ethereum, Santiment said, "There is Still Hope for...

Evaluating the Fall in Ethereum, Santiment said, "There is Still Hope for ETH!" Said!

On-chain data provider Santiment evaluated the decline in Ethereum.

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Yesterday, Bitcoin fell sharply after the news that FTX announced its current crypto holdings.

With this decline, BTC fell to $ 24,950, while altcoins also retreated.

Related News  Why Did Bitcoin (BTC) Drop? Is This Level the Target?

Because the largest altcoin, Ethereum (ETH), also decreased by around 3%, falling to $ 1,530.

Although ETH bulls tried to take $ 1,600, they were unsuccessful and ETH is at $ 1,579 at the time of writing.

At this point, evaluating the decline in ETH, on-chain data provider Santiment stated that Ethereum dropped to $ 1,500 for the first time since March 12.

Santiment pointed out that a significant amount of ETH was moved during this period and stated that this situation is an indicator of capitulation and generally signals potential returns in the market.

“Ethereum dropped to $1,540 for the first time since March 12. This drop coincided with a large amount of dormant ETH being moved out of wallets.

“A continued decline in the average dollar value while prices are falling is a sign of capitulation and often signals potential reversals in the market.”

Looking at the Ethereum chart, the downside support level for ETH is $1,440.

*This is not investment advice.

Buradaki Yorumlardan Bildirim Al

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