Cryptoquant analyst Shayan BTC said that the price of Ethereum could continue to decline in the short term, unless the situation changes.
The current Ethereum price is struggling to break above $4,000, and the buy-sell ratio (7-day moving average) in the futures market shows the sellers are dominant. The ratio has recently failed to rise above 1, and has dropped sharply, indicating that most futures traders are actively selling Ethereum, either for speculative purposes or to realize profits. It said the trend is a bearish signal, and if this trend continues, the current downward retracement is likely to continue.
Most futures traders are actively selling ETH, and ETH is likely to continue to decline in the short term
2024-06-11 06:51:20
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