Can Ethereum [ETH] bear the loss of desperation in the wake of…

January 9, 2023

By Suzuki Shillsalot

Ethereum [ETH], the second largest cryptocurrency by market capitalization gained 8.74% in the last seven days. However, this increase could be short lived as per a CryptoQuant analyst.

Joawedson, the analyst, referred to the manner in which the exchange flows affect ETH as the basis for his forecast

Unfazed by ETH’s impression

Furthermore, the trend displayed by the exchange flows act as a yardstick for evaluating potential tops and bottoms. According to CryptoQuant data, the exchange inflow last hit notable peak values around November 2022. 

The seven-day Moving Average (MA) also seemed to follow a similar trend. However, recently both metrics indicated a decrease from the crest. This implied that investors who have held ETH for long might be distressed from its long decline period. Hence, investors could consider selling their holdings. 

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