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- 🚀 Gate.io #Launchpad# Initial Offering: #PFVS#
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Good Signs Are Coming for Ethereum: Pressure on Price May Decrease! - Koin Bulletin
Ethereum (ETH) spot transaction volume drop may provide stability in the market by reducing the selling pressure on prices.
According to the CryptoQuant analyst, the drop in Ethereum spot trading volume could be a positive development for the market and this situation may help to ease the selling pressure on the Ethereum price.
In an analysis by a CryptoQuant analyst, it is stated that despite the recent correction process experienced by Ethereum, the decrease in spot trading volume could reduce the volatility on the price. The drop in spot trading volume could particularly prevent large volume sell-offs, thus alleviating the selling pressure in the market. According to the CryptoQuant analyst, this situation could contribute to making Ethereum's price movements more stable.
However, the CyrptoQuant analyst emphasizes that investors should still be cautious and reminds them that this drop does not mean that Ethereum has reached its bottom point.
An important point emphasized by the CryptoQuant analyst is that changes in trading volume can be decisive for the future direction of the market. In an environment where volume is decreasing, a reduction in volatility and selling pressure may help Ethereum enter a healthier price movement. However, the CryptoQuant analyst notes that this development is not a definitive recovery signal for investors and expresses that caution is necessary.
According to CoinGecko data, Ethereum is finding buyers at $1,841 with a rise of 2.3% in the last 24 hours.