Santiment, one of the leading cryptocurrency data analysis companies in the industry, emphasized that dangerous days are on the horizon for the second largest cryptocurrency by total market capitalization.
The Situation Is Risky For Ethereum
centimeter, Ethereum’s MVRV He emphasized that the data (indicator showing the difference between the market value and the real value) puts ETH at a dangerous point at the moment.
MVRV consists of comparing the total market value of an asset with its actual market value so that market peaks or bottoms can be predicted.
Santiment emphasized that for now, the MVRV rate of ETH is in the dangerous and high-risk zone.
The price fell sharply when these levels were seen before, and Santiment experts emphasize exactly this, expressing that the 30-day MVRV is now very close to the so-called “difficulty zone”.
Experts stated that there is still room for a 25% increase, and that the rise may continue for a short time despite this risky situation.
In the long term, it is emphasized that the 365-day data points to a “very risky, overvalued” level.
Santiment stated that the amount of ETH sent to exchanges has also increased recently and there may be a selling pressure soon.
In short, according to Santiment, Ethereum will soon fall hard with selling pressure and take other altcoins with it.