The firm notes that declines in interest and sentiment as extreme as the one being seen now typically suggest an upside movement is looming on the horizon.<\/p>\n
Ethereum Continues Consolidating as Likelihood of Upside Grows<\/strong>\u00a0<\/strong><\/h2>\nAt the time of writing, Ethereum is trading sideways at its current price of $353. This is slightly above where it has been trading at throughout the past few days and weeks, with it pushing higher today in tandem with Bitcoin.<\/p>\n
This slight upwards momentum comes as the stock market begins stabilizing, which is allowing the entire crypto market to see some momentum.<\/p>\n
If ETH continues tracking Bitcoin, then further upside could be imminent in the days and weeks ahead.<\/p>\n
Analytics Firm: ETH Social Volume Points to Imminent Upside<\/strong>\u00a0<\/strong><\/h2>\nWhile speaking about where Ethereum may trend in the days and weeks ahead, one analytics firm explained that investors growing disinterested in the cryptocurrency<\/a> is actually a bullish development.<\/p>\nThey note<\/a> that periods of extremely low sentiment are typically followed by sharp upwards movements. As such, Ethereum could soon confirm its recent lows as a long-term bottom and begin ascending higher.<\/p>\n\n\u201cThe social volume of #Ethereum is nearing 6-month low levels across social discourse platforms as traders look elsewhere for volatility to trade. However, assets like ETH typically see the biggest buy opportunities when crowds are disinterested,\u201d they explained while pointing to the below chart.<\/p>\n<\/blockquote>\n
![\"Ethereum\"](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/10\/Santiment-860x465.jpg\")
<\/p>\n
Image Courtesy of Santiment.<\/pre>\nWhere Ethereum trends in the days and weeks ahead will likely continue depending largely on Bitcoin.<\/p>\n
Any further BTC<\/a> turbulence could strike a serious blow to ETH, leading it back down towards its recent lows of $315.<\/p>\nFeatured image from Unsplash. Pricing data from TradingView<\/a>.<\/pre>\n\n\nGet the latest information of the Crypto world on at BUYUCOIN <\/p>\n\n\n\n
While speaking about where Ethereum may trend in the days and weeks ahead, one analytics firm explained that investors growing disinterested in the cryptocurrency<\/a> is actually a bullish development.<\/p>\n They note<\/a> that periods of extremely low sentiment are typically followed by sharp upwards movements. As such, Ethereum could soon confirm its recent lows as a long-term bottom and begin ascending higher.<\/p>\n \u201cThe social volume of #Ethereum is nearing 6-month low levels across social discourse platforms as traders look elsewhere for volatility to trade. However, assets like ETH typically see the biggest buy opportunities when crowds are disinterested,\u201d they explained while pointing to the below chart.<\/p>\n<\/blockquote>\n Where Ethereum trends in the days and weeks ahead will likely continue depending largely on Bitcoin.<\/p>\n Any further BTC<\/a> turbulence could strike a serious blow to ETH, leading it back down towards its recent lows of $315.<\/p>\n Get the latest information of the Crypto world on at BUYUCOIN <\/p>\n\n\n\n\n
<\/p>\nImage Courtesy of Santiment.<\/pre>\n
Featured image from Unsplash. Pricing data from TradingView<\/a>.<\/pre>\n\n\n