After the Fed’s announcement of the interest rate decision yesterday, in line with the expectations and Fed chairman Jerome Powellrising after the speech of Bitcoin (BTC) and altcoinenthusiasm continues.
With the rise experienced, Bitcoin saw above $ 24,000. Ethereum (ETH) It was close to $1,700.
Popular on-chain data provider as investors’ bullish anticipation for cryptocurrencies grows centimentwarned that there may be a drop in Ethereum in February.
On-chain data ETHStating that the desire to make profits in .
In Ethereum analysis Aroon indicator Looking at ETH’s Aroon indicator on the daily chart, Santiment noted that the bullish sentiment has weakened significantly over the past few weeks.
“ETH had an impressive performance in January, but that’s not news anymore.
Over the past 31 days, the price of the leading altcoin has increased by over 30%. The price surge also caused FTX to trade at levels seen before its unexpected collapse.
However, as profit-making intensifies, Ethereum may be gearing up to divest some (if not all) of its February gains.
A look at ETH’s Aroon Indicator on the daily chart revealed that the bullish sentiment has weakened significantly over the past few weeks.
The Aroon Up line was detected as 21.43%.”
Generally, when the Aroon Up line approaches zero, it suggests a weak uptrend and a distant final high, indicating the possibility of an uptrend reversal.
Trend reversal according to the Aroon indicator and ETHTime will tell whether this analysis of Santiment, which expects a decrease in .
Rising after interest rate decision Ethereum At the time of writing, it continues to trade at $ 1,665.
*Not investment advice.
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