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Cryptoquant Analyst: Futures traders are selling Ethereum, Ethereum may continue to fall in the short term

Cryptoquant Analyst: Futures traders are selling Ethereum, Ethereum may continue to fall in the short term

Bitget2024/06/11 07:37
ETH+4.45%

Cryptoquant analyst ShayanBTC stated that the price of ethereum may continue to fall in the short term unless market conditions change. The current price of Ethereum is struggling to break through $4000, and the buy-sell ratio (7-day moving average) in the futures market shows sellers are dominant. This ratio has recently failed to rise above 1 and has dropped sharply, indicating that most futures traders are selling Ethereum either for speculative purposes or to realize profits. He said this trend is a bearish signal, and if it continues, the current downward correction could persist.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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