Oh, darling, according to some chap named Ali Martinez on X, Ethereum (ETH) might have finally finished its little cry for help. Down a rather ghastly 55% over the last year, the poor dear. 📉
Has Ethereum Thrown in the Towel?
Unlike Bitcoin (BTC) and those other upstarts – XRP, Solana (SOL), and SUI – Ethereum has had a rather trying two years. Trading at a jolly $1,892 two years ago, it’s now languishing around $1,560. A 17% drop! Scandalous! 😲
Bitcoin, on the other hand, has galloped from a mere $41,000 to a rather immodest $82,127. Nearly 100%! One might say it’s showing off. 🙄 Solana, while not entirely dismal, did at least manage a brief flirtation with a new high of $293. Ethereum, alas, seems to be sulking in the corner.
This historically indicates a macro bottom zone, meaning $ETH might be undervalued and long-term holders are less inclined to sell. It also suggests: sentiment is low, capitulation may have occurred, smart money might be accumulating.
For those not fluent in crypto-babble, Ethereum’s Entity-Adjusted Dormancy Flow compares the market cap to the dormancy – the average age of ETH being moved – adjusted for unique entities. It’s all frightfully complicated, darling. 😵💫
If ETH follows historical trends, a reversal might be nigh. Another crypto-seer, Merlijn The Trader, suggests Bitcoin Dominance (BTC.D) is peaking, potentially shifting capital into altcoins. A short-term rally, perhaps? One can only dream. ✨
BTC.D currently stands around 63.5%. A potential pivot by the US Federal Reserve toward quantitative easing (QE) could inject fresh liquidity. A mini altcoin rally, you say? How thrilling! 🤩
ETH Demands Cautious Optimism
While there are hints that ETH might be bottoming out, some indicators suggest further weakness. One can never be too careful, can one? 🤔
Martinez warns ETH could plummet to a ghastly $1,200 if the sell-off continues. And those capital outflows from US-based spot Ethereum exchange-traded funds (ETF) are a bit of a worry. 😟
However, another analyst, NotWojak, believes ETH is on the verge of a breakout, with a target of $1,835. At the moment, ETH is trading at $1,557, down 2.3% in the last 24 hours. The suspense is simply killing me! 🙄
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2025-04-12 11:11