The crypto market has been a rollercoaster lately, and Ethereum (ETH) is no exception. But there are some key metrics that can give us clues about where ETH might be headed.
Bullish Signs
- Investors are optimistic: Most Ethereum investors are still betting on it going up in the long run.
- Whales are buying: Even after losing millions, one big investor borrowed money to buy more ETH.
- Holders are waiting to profit: Many Ethereum holders are still underwater, but they’re holding on, which could support the price.
Bearish Signs
- Network growth is slowing: Fewer new users are joining the Ethereum ecosystem.
- Fees are low: This suggests less activity on the network, which could mean fewer people are using or holding ETH.
Silver Lining
- Velocity is increasing: Existing users are trading more actively, which could boost liquidity and potentially lead to price increases.
Current Price
As of writing, Ethereum is trading around $3,200, which is up in the last 24 hours.
