Santiment: Declines in Ethereum Price Could Trigger a Surprise Rally! - Coin Bulletin

According to analysts, the drops in Ethereum's price of (ETH) could lead to a surprise rise after a while.

On-chain analysis platform Santiment analysts suggest that the decrease in the amount of tokens in profit from the drop in Ethereum price could pave the way for a surprise rise.

In the last seven weeks, Ethereum's market value has declined by 36 percent. As a result, the profitability of ETH produced through mining has greatly decreased. Looking at daily closings, the lowest profit percentage in the last four months and the lowest token amount in the last three months were recorded.

Things can turn around for Ethereum

Despite being the second largest cryptocurrency in terms of market capitalization, Ethereum has recently shown a weaker performance compared to other major assets due to increasing FUD in the market, leading many retail investors to continue to sell off their ETH assets.

However, Santiment analysts point out that this negative sentiment could lead to a surprising turnaround. If the markets stabilize, there is a possibility that Ethereum could make a strong bounce from the low levels.

According to CoinGecko data, Ethereum, which has lost 19% of its value in the last 30 days, is trading around $2,645 at the time of the news.