Ethereum

<a href="https://en.coin-turk.com/cryptocurrencys-impact-on-low-income-workers-opportunities-and-risks/" data-wpel-link="internal">Crypto</a> investors are witnessing increased losses in altcoins as a result of the negative trends in BTC prices. The upcoming days are crucial. In the meantime, there are clear signs of decline for some altcoins. So, what is the expectation for the king of altcoins? What awaits investors in the coming days? Here are the details. 
<h2 style="text-align: justify" id="ethereum-eth">Ethereum (ETH)</h2> 
In the coming days, U.S. inflation data will be released and a surprise here could increase volatility. The expectation is that the decrease in inflation will continue, and if there is a decrease above expectations, this could price <a href="https://en.coin-turk.com/tone-vays-foresees-bitcoin-rallies-up-to-55000/" data-wpel-link="internal">Bitcoin</a>‘s July interest rate decision. The employment front is weakening, albeit not to the expected extent. If inflation also continues to decline, the Fed may refrain from raising interest rates at the end of the month. This could lead investors to double-digit gains in altcoins. The opposite scenario would increase the momentum of the declines. 
Ethereum’s price witnessed a decline once again, falling below $1,900. Latest data suggests that if selling pressure continues to increase, things could get worse. 
<h2 style="text-align: justify" id="ethereum-eth-comment">Ethereum (ETH) Comment</h2> 
The king of altcoins managed to surpass $1,900 last week, but couldn’t sustain the rally. According to CoinMarketCap, the price of <a href="https://en.coin-turk.com/ethereum-founder-vitalik-buterin-doubles-down-on-covid-research-funding-key-announcements/" data-wpel-link="internal">ETH</a> fell by more than 2.4% in the last seven days. At the time of writing, it was trading at $1,870.54 with a market value of over $224 billion. Beyond that, a recent tweet by Lookonchain indicated that Justin Sun sold his ETH assets. According to the tweet, Justin Sun transferred more than 23,000 ETH to Poloniex, valued at over $43 million. Given this sale, it seemed likely that sales would continue. However, as evidenced by the increase in weighted sentiment, it did not affect sentiment around Ethereum. In fact, as social volume increased, Ethereum’s popularity rose. 
<img decoding="async" class="size-full wp-image-235852 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/07/Justin-Sun-eth.png" alt="" width="672" height="713"> 
A Glassnode Alert revealed that Ethereum’s exchange outflow recently reached a one-month low. The metric clearly shows that investors aren’t buying tokens. This situation was confirmed by CryptoQuant’s data, which pointed to an increase in ETH’s exchange reserve, indicating it was under selling pressure. The second signal strengthens the possibility of a decline. 
<img decoding="async" class="size-full wp-image-235854 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/07/ETH-Sosyal-Volum.png" alt="" width="2560" height="867"> 
According to Santiment’s chart, both Ethereum’s MVRV Ratio and velocity dropped last week, signaling a decline. However, the supply held by addresses with a large accumulation recorded a slight increase during the same period. 
<img decoding="async" class="size-full wp-image-235853 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/07/ETH-MVRV.png" alt="" width="2560" height="867"> 
ETH’s MACD indicated a downward trend, showing that sellers were driving the market. The Relative Strength Index (RSI) followed a horizontal path near the neutral mark, indicating a downward trend. Finally, MFI supports the possibility of a decline. 
The post <a rel="nofollow" href="https://en.coin-turk.com/crypto-investors-face-increasing-losses-as-negative-trends-continue-in-altcoins/" data-wpel-link="internal">Crypto Investors Face Increasing Losses as Negative Trends Continue in Altcoins</a> appeared first on <a rel="nofollow" href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Crypto Investors Face Increasing Losses as Negative Trends Continue in Altcoins

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