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Abbas🎩👾
@abbass.eth
Bearish ETH POV [1/3] Ethereum's price is struggling alongside other altcoins, with its future dependent on maintaining critical support levels. If these levels fail, ETH could enter a prolonged bearish phase. Recent price action suggests Ethereum may be nearing the end of its current bull market cycle. The Market Value to Realized Value (MVRV) Long/Short Difference, a key indicator, has dropped significantly from a yearly high of 55% to 2.08%. This indicates that many long-term holders have exited profitable positions. If this trend continues and the MVRV turns negative, ETH could face a bear market similar to the one in 2022.
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Abbas🎩👾
@abbass.eth
[2/3] If Ethereum's current trend follows past patterns, the expectation of it reaching five digits this cycle may be unrealistic. The "Balance by Time Held" metric, which usually indicates confidence when it rises during a bull cycle, has also increased for ETH over the past 30 days. However, this rise suggests some holders may be losing confidence in Ethereum's short- to long-term potential, possibly indicating a shift in market sentiment.
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MattwithouttheT 🎩
@mathew
What bull market? 😭
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atnsarts.eth
@atnsarts.eth
You should see the yearly candle hahah ETH is so doomed if it doesn’t pump now
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Ako🎩ツ
@ako1988
I'd be glad if it goes bear market honestly
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Anibo🅰️
@anibo
💪
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FIR🅰️S HAMDAN 🎭🎩
@cryptodynamo
Thank you for sharing
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