Buying orders are returning to the Ethereum futures market, indicating that negative sentiment is correcting. However, as the coinSince September 10th, ETH's buy to sell ratio has steadily increasedUnder strong resistance of $2000, ETH investment continues to yield extremely low profitsAccording to the 30 day Simple Moving Average (SMA) evaluation, the buying and selling ratio of Ethereum [ETH] recipients has climbed to its highest level since June 23rd
Buying orders are returning to the Ethereum futures market, indicating that negative sentiment is correcting. However, as the coin
- Since September 10th, ETH's buy to sell ratio has steadily increased
- Under strong resistance of $2000, ETH investment continues to yield extremely low profits
According to the 30 day Simple Moving Average (SMA) evaluation, the buying and selling ratio of Ethereum [ETH] recipients has climbed to its highest level since June 23rd. This is based on data from CryptoQuant.
The buyer to seller ratio is an indicator that measures the ratio between the buying and selling volumes in the asset futures market. A value greater than 1 indicates that the buying volume exceeds the selling volume, while a value less than 1 indicates that the selling volume exceeds the buying volume.
The steady decline of this indicator indicates that the futures market of related assets is troubled by more selling orders than buying orders.
Due to significant resistance faced by ETH near the $2000 price level, its buyer to seller ratio has shown a downward trend since May 29th. In fact, by August 28th, it had fallen to its lowest level this year.
Although still below 1, CryptoQuant analyst "Greatest_Trader" now claims that the surge in ETH receiver buying and selling ratios since September 10th represents a resurgence of positive emotions. This may help increase the value of counterfeit coins.
This surge indicates a possible change in the sentiment of market participants, indicating a shift towards a more bullish stance. If the indicator continues its upward trend and enters a positive range, it may indicate the beginning of a new stage characterized by bullish price trends. In this case, the price of Ethereum may rise and reach higher resistance levels
ETH currently promises little or no return
Although the positive sentiment in the ETH futures market may be returning, the overall market seems to be filled with bearish activity. This can be seen from the continuous decline in the daily profit trading volume involving substitutes.
According to Santiment's data, ETH's daily on chain trading volume profit and loss have decreased compared to last month. As of the time of publication, the number was 0.85, indicating that out of each ETH transaction that resulted in losses, only 0.85 were profitable.
In addition, after reaching a peak of 23% on July 29th, the market value and realized value (MVRV) of tokens decreased. This indicator tracks when assets are overvalued or undervalued relative to their historical price changes and the last change in price.
Finally, as of the time of publication, the reading was 18%. Since the end of July, the number of ETH holders who can earn investment profits by selling tokens has significantly decreased.
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