Crypto Analyst Announces Critical Data Bottom On Ethereum (ETH): What Does It Mean?

Co-founder of Bitazu Capital cryptocurrency analyst Mohit Sorout, in his post on Ethereum (ETH) He claimed there was a rally.

“Ethereum Volatility Reaches Extremely Low”

Sorout made this claim in a recent tweet, emphasizing that the volatility of this cryptocurrency has reached extremely low levels, which could pave the way for a price increase.

For Ethereum’s volatility to return to higher levels on average, Sorout suggests that the price must rise.

$ETH volatility experienced extreme lows.
For vol to mean-revert to higher levels, price will have to do the needful, no?

Translation: Number go up more. https://t.co/nPYEvojROt

— Mohit Sorout 📈 (@singhsoro) February 19, 2023

According to data provided by coin rating site CoinMarketCap, Ethereum has a market cap of $207 billion. However, the price performance has followed a volatile course in the last seven days, with fluctuations between the $1,500 and $1,700 price levels.

Sorout also recently based on the DCA indicator bitcoin He claimed that a rare and major bullish signal was shining, “the chief of all bullish signals” for

the mother of all $btc bullish signals has flashed – DCA indicator

Historically, it has flashed only thrice in btc’s existence & each occurrence led to massive rallies of
7400% (2015)
160% (2019)
640% (2020)

Today marks the 4th time this signal is suggesting a raging bullmarket pic.twitter.com/suMVlWFrzc

— Mohit Sorout 📈 (@singhsoro) February 16, 2023

According to the analyst, the DCA indicator has only signaled three times in the history of the cryptocurrency, leading to massive rallies each time. Sorout noted that this is only the fourth time in history that the DCA indicator has suggested a fierce bull market for Bitcoin:

“The DCA indicator, which is the primary of all Bitcoin bullish signals, gave the signal.

Historically, this sign has only been seen three times in BTC history, with each event leading to massive rallies:

7400% (2015)

160% (2019)

640% (2020)

Today, this signal marks the 4th time of a fierce bull market.”

At the time of this writing, BTC price is trading at $24,673, with an increase of 0.81% in the last 24 hours.

*Not investment advice.