Ethereum Retail Mood Still Bearish: Perfect Setup For ATH Break?

Data shows that ethereum feelings on social media do not tend to ascend at the present time, which can pave the way for a continuation of assets.

ETHEREUM positive/negative morale is still at silent levels

In new mail On X, Santiment Analysis talked about feelings about Ethereum between social media users. The Santiment indicator is “positive/negative feelings”, which tells us how the positive and negative comments related to ETH are compared to each other on the main social media platforms.

The scale is separated between two types of comments by setting posts/interconnection/messages for users through the device learning form. Once it is divided, it is considered the number of each of them and takes the ratio between them.

Below is the graph that the analysis company that shows the trend in the positive/negative emotions ETHEREUM is shared in the past few months:

As shown in the graph, positive/negative emotions witnessed interestingly that a decline in the outbreak of origins earlier this month. This may indicate that social media users were not convinced of gathering. Continuing to run since then meant that the feeling had improved slightly, but it is still much lower than the height of last month. Consequently, the retail sales appear to be in a state of lack of belief, despite the fact that the cryptocurrency is close to its height at all (ATH).

If the past is anything that it goes through, this fact may actually be a positive sign of ETH. “The prices historically move the opposite direction for the expectations of retail merchants,” Santem says. In the plan, the Analysis Company highlighted some of the counterparts of this trend at work. It seems that FOMO mutations led to a decrease in prices of the original, while excessive FUD led to high prices.

“With the accumulation of the main stakeholders, the loose metal coins that young Eth traders want to separate at the present time, the prices show a little moral resistance from hacking history in the near future,” explains Santime.

In some other news, the open interest of Ethereum Future increased, as well as the price increased, as Glassnode pointed out to Analytics in X mail.

Open benefit measures for futures contracts, as its name suggests, the total amount of positions related to future contracts that are currently open to all central exchanges. From the graph, it is clear that the scale has risen to $ 35.5 billion, which is a new record.