Due to the correlation with the global markets Bitocin (BTC) falling below $40,000 again Ethereum (ETH) also caused it to lose the $3000 level.
On-chain data provider as Bitcoin and Ethereum continue to trade just below these critical levels centimentexplained that the ETH price may rise in the near future and the reasons for this.
Sharing on Twitter, Santiment, last month ETH He said that while the price dropped, the number of unique addresses on the Ethereum network has seen a slight growth.
Noting that the use of ETH has increased in this context, Santiment stated that this situation provides the conditions for a possible increase in the price of ETH.
While the ETH price drops with Bitcoin, the number of active addresses increases, Ethereum It was interpreted as a strong signal that the price turned positive and will start to increase.
“The number of unique addresses on the Ethereum network has increased slightly as prices have dropped. The increase in the number of addresses while the prices are falling is a strong situation for the prices to turn positive.”
📊 #Ethereum‘s amount of unique addresses interacting on the network has mildly improved as prices have declined. This has created an upward trend and a #bullish divergence Utility growing while prices drop is a strong case for prices turning positive. 👍 https://t.co/cOxFjkx009 pic.twitter.com/29lFkitkk8
— Santiment (@santimentfeed) April 27, 2022
According to CoinMarketCap data, Ethereum, which has increased by 1.68% in the last 24 hours, is trading at $ 2,925.