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Ethereum (ETH) has once again slipped below the $4,000 mark as the market plunged after Federal Reserve Chairman’s unexpectedly hawkish remarks on Wednesday. As a result, ETH’s Buy\/Sell Pressure Delta has turned negative, while on-chain volume also started to decline.<\/p>\n
But Alphractal believes this combination might not be as bearish as it appears.<\/p>\n
According to the latest update shared<\/a> by crypto analytics firm Alphractal, each time this metric dips below zero, one of two outcomes typically follows: either the price has already bottomed out amid temporary selling pressure, or the market slips into a prolonged downtrend when the Delta becomes deeply negative.<\/p>\n However, the firm explained that the current readings do not indicate a severe downturn similar to the one observed between February and April. Meanwhile, the drop in on-chain volume, which measures the total USD value of ETH transactions, reflects waning public interest. This is a common occurrence during “discouraging” or consolidation phases in the market.<\/p>\n These factors together indicate that Ethereum may be in a phase of quiet accumulation rather than outright decline. Alphractal points out that the combination of social disbelief and a mildly negative Buy\/Sell Pressure Delta could imply that broader market euphoria has yet to begin.<\/p>\n “The data tells a story of what\u2019s truly happening on-chain – and if you look closely, things aren’t as bad for ETH as many believe.”<\/p>\n<\/blockquote>\n Beyond on-chain data, crypto market analyst Micha\u00ebl van de Poppe pointed<\/a> out that Ethereum continues to show strength despite recent market uncertainty. He stated that ETH is firmly holding above a significant horizontal support zone, a price region that has repeatedly served as a solid base during past consolidation periods.<\/p>\n Moreover, Ethereum remains above its 20-week moving average, a widely monitored metric that reflects medium-term market health. Van de Poppe explained that this alignment between price support and moving average stability signals potential bullish momentum forming beneath the surface.<\/p>\n If ETH maintains these technical levels, he anticipates a shift toward positive weekly closes heading into November, which means that the market could be preparing<\/a> for a rebound after weeks of range-bound movement and low investor sentiment.<\/p>\n The post Ethereum’s (ETH) ‘Negative’ Metric Might Actually Mean a Bottom Is Forming<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n\n\n
Green Weeks Incoming?<\/h2>\n
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