While Bitcoin may be the oldest and most widely known cryptocurrency in the world, Ethereum is right at its tail. The second biggest crypto asset has,
Ethereum price downtrend that began three months ago is continuing this week despite the fake-out rally. Since the fake rally, derivatives markets have seen an increase in ETH open interest, while Bitcoin is witnessing a sharp drop in its OI. The positive sentiment that hit a five-month peak, if sustained, would suggest increased bullishness for ETH.
Ethereum needs investors' support While Ethereum may be the traders' new favorite asset, it still needs to ensure sustained support from the rest of the ETH holders. According to the weighted sentiment, the optimism surrounding ETH has been declining since the beginning of the month, averaging borderline pessimism. Ethereum weighted sentiment This is also evident in the active addresses noted on the network.
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