Crypto Money News – Crypto analytics firm Santiment is exploring whether Ethereum (ETH) and XRP are ready for further recovery after making big gains.
Will there be a rise in Ethereum?
Over the past few weeks, Ethereum has surged from around $ 1,566 in March to $ 2,544 this week. Santiment posted its latest ETH price analysis this Thursday, assessing the probability of the second largest asset by market capitalization to rise to $ 3,000 in a single long bullish move.
The firm shares that ETH is flashing some bullish technical signals, noting that Ethereum address activity is following a steady uptrend.
“Address activity has been on the rise over the last year, clearly and well.”
Santiment adds that Ethereum is a fresh capital buyer.
“The average age of the dollars invested in Ethereum clearly shows that new money is coming and dormant investments are moving.”
Santiment also noted that ETH is showing signs of full bearishment, adding that average trader returns over the past thirty days have been quite high, which could be a sign that the asset is peaking in the short term.
Additionally, the firm warns that very high Ethereum gas fees may deter investors from continuing to use the platform. Average gas fees on the leading smart contract platform have increased from under $ 2 at the beginning of the year to about $ 7.40 in current value.
When it comes to XRP, Santiment says it is time to cool down after Ripple’s native token has increased 240% in just thirty days.
The firm warns traders that although XRP’s chart against the USD appears to be relatively bullish and prints higher highs and higher lows, it will likely pause before continuing its upward trajectory.
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