Ethereum Price Fears Triggered by Recent Market Trends - COINTURK NEWS
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Ethereum Price Fears Triggered by Recent Market Trends

12:04 am (22 days ago)
September 11, 2023

Recent price movements have triggered concerns that Ethereum (ETH) may lose its support at $1,600 for the first time in six months. On-chain analysis examines vital data trends that suggest bullish investors can take advantage of the growing market Fear, Uncertainty, and Doubt (FUD).

Will FUD Increase in Ethereum?

After surpassing the $2,000 mark in mid-July, the Ethereum (ETH) price entered its second month of decline. Despite Grayscale’s recent Spot ETF approval, the sentiment in the crypto markets is predominantly bearish. On-chain analysis explores how strategic crypto investors can reverse the scenario by capitalizing on market Fear, Uncertainty, and Doubt (FUD).

After about two months of decline, most cryptocurrency investors now express a bearish trend. According to crypto data analytics firm Santiment, the bearish sentiment dominated the crypto market discourse in September. However, historical trends suggest that this indicates an approaching turning point in the market. The Social Volume graph may indicate that the mentions of “Bear Market” have surpassed those of “Bull Market” since August 31.

Current Data on Ethereum!

Social volume measures how many times a cryptocurrency is mentioned on relevant social media channels. In this context, the continued discussion of the “Bear Market” on social media shows that investors are dissatisfied. As market sentiment approaches extreme fear, strategic investors often interpret this as a perfect time to buy the dip, unintentionally triggering a price increase.

Historical trends show that this phenomenon occurred around March 8, when extreme market FUD was triggered by the stabilization of USDC and the failure of Silicon Valley Bank. In contrast, the Ethereum price rose from $1,430 to $2,120, a 48% increase, between March 11 and April 17. The recent abundance of negative opinions is a vital indicator that this phenomenon could resurface in the coming days.

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