According to Santiment, This Data Has Been Determining the Ethereum (ETH) Price for the Last Two Months! What's Next for Ethereum?

Bitcoin (BTC) and altcoins experienced a major crash in October, contrary to bullish ￰0￱ fluctuating throughout the month, BTC and altcoins failed to achieve a strong ￰1￱ this point, the largest altcoin, Ethereum (ETH), also fell to $3,700 in a decline triggered by the hawkish statements of FED chairman Jerome ￰2￱ investors' panic selling and short positions were influential in this decline, ETH is having difficulty holding the psychological level of $4,000. While there is speculation about whether Ethereum will continue to decline, cryptocurrency analysis platform Santiment noted that the growing expectation of a downward trend could signal a potential price ￰3￱ its latest analysis, Santiment said that Ethereum's supply on exchanges has reached unusually low ￰4￱ addition, Santiment stated that a large amount of short positions have accumulated in ETH, and that these create favorable conditions for a potential upward movement for the ETH price, similar to previous market ￰5￱ this point, Santiment suggested that the growing expectation of a bearish trend in Ethereum could signal a potential price recovery.

“Ethereum has fallen to $3,700 and investors are showing signs of ￰6￱ to data from the last 2 months, funding rates on exchanges determine where the ETH price will ￰7￱ this point, when the ETH market is dominated by large long positions (greed), the price tends to experience a correction. Conversely, when ETH is dominated by large short positions, the probability of a price jump is high. *This is not investment ￰8￱ Reading: According to Santiment, This Data Has Been Determining the Ethereum (ETH) Price for the Last Two Months! What's Next for Ethereum?