Ethereum Set For Strong Bullish Momentum
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Ethereum’s (ETH) went down after some losses earlier this week and is possibly set for a bullish performance. Traders are expecting a break above $3200 to confirm a strong bullish trend. On-chain analysis indicates a strong upcoming rally as the ratio of on-chain transaction volume in profit and loss shows panic selling at the bottom. According to the on-chain analytics platform Santiment, Ethereum (ETH) has recovered strongly after bottoming out at $2960. The Ethereum on-chain transaction volume in profit/loss ratio data is in the bullish zone after three days of capitulation. Moreover, it signals a strong upcoming upward trend as the price stabilizes above the $3100 level. submitted by /u/getblockio |
