Ethereum zemin kazanmaya devam ediyor, işte böyle


  • ETH’s MVRV ratio slipped below its 180-day small moving average.
  • This is a bearish signal, and it indicated a further price decline might be imminent. 

Leading altcoin Ethereum [ETH] is at risk of further decline, as its daily Market Value to Realized Value (MVRV) ratio has fallen below its 180-day small moving average (SMA), Twitter crypto analyst Ali_Charts found.

MVRV oranı, bir varlığın mevcut piyasa fiyatı ile o varlığın edinilen her koinin veya tokeninin ortalama fiyatı arasındaki oranı izler. Birin üzerinde pozitif bir MVRV oranı, bir varlığın aşırı değerli olduğuna işaret eder.

According to Santiment, the more this ratio increases, the more likely traders have historically demonstrated their willingness to sell.


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Conversely, a negative MVRV value shows that the asset in question is undervalued, as if holders sold at the asset’s current price, they would realize losses. 

As noted by Ali_Charts, when an asset’s MVRV ratio rests above the 180-day SMA, the market capitalization is greater than the total amount of profit realized, which suggests that the market is in an uptrend. 

On the other hand, when the MVRV ratio is below the 180-day SMA, the market capitalization is less than the total amount of realized profit, which suggests that the market is in a downtrend.

Regarding ETH, its MVRV ratio recently fell below the 180-day SMA, suggesting that its recent price decline may not be over.

ETH traders continue to dawdle

With many uncertain of the coin’s next direction, the recent market deleveraging event has caused ETH holders to stay their hands from accumulating the altcoin. Since 17 August, when the market suffered a huge liquidity exit, key momentum indicators have plummeted, suggesting a drop in buying pressure.

Below their respective center lines at press time, ETH’s Relative Strength Index (RSI) and its Money Flow Index (MFI) were 30.44 and 18.54. 

Likewise, as of this writing, the alt’s Chaikin Money Flow (CMF) returned a negative value of -0.08, a position it has occupied since the capital exodus. Generally, a CMF value below the zero line is a sign of weakness in the market.

Kaynak: ETH / USD, TradingView


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Outside the spot market, reduced ETH trading was also observed in the futures market. Across cryptocurrency exchanges, the total amount of ETH’s Open Interest valued in dollars has trended downwards since 17 August. In the last seven days alone, this has declined by 4%. 

Also, on leading exchanges Binance and dYdX, ETH’s funding rates have been predominantly negative for the past two weeks. This signaled where market sentiment lies, showing investors preferred to bet against the alt’s price.

Kaynak: Santiment

Source: https://ambcrypto.com/ethereum-bears-gaining-ground-heres-how/