- Ether Lee has seen some exchange leaks in the last 48 hours.
- Heavy Open Interest Interest Nuclear Weapons and Shock Circulation Spikes have recently emphasized weak feelings.
Ether Lee (ETH) faced rejection in the $ 3.5K resistance area. In recent years, panic in the entire market has been reduced by 38% to $ 2,125 after a few hours after the price fell to $ 2,921.
Source: COINGLASS
The rapid drop is that the entire market has been liquidated between $ 8 billion and $ 10 billion, so a large amount of public interest (OI) has been removed.
ETH OI has been close to mid -November since I recently wiped. Unfortunately, the price was about 12% from November.
Do I have to buy or wait more for Etherrium bulls?
Source: cryptoquant
The hot -chain metrics showed a discouraged signal. The Taker Buy-Sell ratio is the ratio of the seller’s volume (unlike the limit) of the buyer’s volume to the permanent exchange. This seller dominance has increased fear in the market.
In addition, this metrics are negative in most cases for the last three months. Price measures also struggled to maintain a strong rise, unlike Bitcoin (BTC) or other large cap altcoin.
Source: cryptoquant
Exchange net flow was positive and ETC was higher in November. This positive net flow appeared while prices fell. Inflows (amounts of net floes) indicate that the potential for pressure sales increases.
Over the last few days, the 7 -day moving average (MA) has fallen into a negative area, and some leaks and accumulation signs have appeared.
Source: Santiment
The dormant circulation saw a strong spike while re -testing $ 3.5K resistance on January 31. This was also when the US market, especially technology stocks, saw a big loss.
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The recent financing rate was also negative. Meanwhile, the average coin age (2 years) has been in high prison for the last two weeks after rising from the end of December. This was similar to what happened in September.
Therefore, short -term or medium -term emotions were strongly weak. Price measures emphasized the importance of the $ 3.5K resistance area.
But the average coin age and some negative leaks were a humble sign of optimistic hope.