On-Chain Metric Tips Ethereum To Form Price Bottom Below $2,000 – Here’s Why
Ethereum has been a major victim of the ongoing crypto market onslaught, recording a 27.63% loss in the last month alone. The largest altcoin now trades around $2,800, representing a significant fall from the local cycle peak around $4,800. As prices continue to tumble with each new drop triggering waves of liquidation, analyst Ali Martinez has postulated on a market bottom target. Related Reading: Ethereum Golden Pocket In Play – Can ETH Turn The Tide Above $2,800? ETH MVRV Pricing Bands Reveal Potential 28% Decline Ahead In an X post on November 22, Martinez shares critical on-chain data....
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After a disappointing performance during the week, the price of Bitcoin has continued its sluggish action over the weekend. According to data from CoinGecko, the premier cryptocurrency has been hovering around the $102,000 level over the past 24 hours. While this current choppy price action seems like an improvement from the severe downturn witnessed in recent days, it doesn’t particularly bring calm to the world’s largest cryptocurrency. Interestingly, the latest on-chain data suggests that the Bitcoin price might still be at risk of further correction in the coming days. Why BTC Price....
A major narrative that is making serious waves in the entire cryptocurrency sector is the fact that the Bitcoin price may have reached a bottom. In the midst of this persistent speculation about the leading crypto asset, a key metric is taking the spotlight, providing insights regarding whether BTC has reached a bottom. Why Bitcoin […]
The bitcoin price tends to be cyclical, and we’re all trying to time the bottom. Can hash ribbons be the metric that predicts it?
The biggest question so far in the bear phase has been when and where the Bitcoin price will bounce back. According to the latest on-chain data, there might be a fresh answer as to where the price bottom will be in the current bear market. Here’s Why $40,000 Could Be Pivotal To The Bear Market […]
On-chain data shows the Bitcoin NUL indicator is still below a value of 0.5, a sign that more downtrend could be in store for the crypto before the bottom is in. Bitcoin Net Unrealized Loss Surges Up, But Still Remains Below 0.5 As pointed out by an analyst in a CryptoQuant post, the cryptocurrency’s price may still be nowhere near a bottom. The relevant indicator here is the “net unrealized loss” (or NUL in brief), which tells us about the total number of coins that are currently holding an unrealized loss. The metric works by comparing the last selling price of each....