Reason to trust
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Ethereum has shown signs of regaining momentum after a recent period of decline. The asset is currently trading at approximately $2,540, reflecting a modest 1% daily increase. This upward move follows a notable dip to the $2,400 range last week, marking what appears to be a short-term rebound from recent bearish pressure.
While price fluctuations continue, on-chain analysts closely monitor Ethereum’s market structure through various metrics that provide historical context and potential forecasting value.
Recent insights from a CryptoQuant analyst have focused on how ETH’s long-term behavior aligns with certain key indicators, which may help define price floors and signal overheated market conditions.
Assessing Ethereum Price Floors Using On-Chain Data
One of CryptoQuant’s analysts, writing under the name CryptoOnchain, shared a breakdown of Ethereum’s potential “price floors” using a composite of on-chain and market metrics.
These floors represent statistical thresholds that have historically acted as support zones during market corrections. Among them is the realized price, which measures the average value at which all circulating ETH last moved on-chain.
This metric is often used as a sentiment gauge to track when market participants are in profit or loss. Another benchmark, the mean_price_classic, reflects the average daily closing price of ETH since inception and serves as a cumulative market average.
It is used in conjunction with the delta_price_classic, a figure derived from the difference between Ethereum’s realized capitalization and its historical average cap, adjusted for supply.
According to the analyst, this delta price is frequently cited in Bitcoin analytics to highlight undervalued zones, and its adaptation for Ethereum provides a comparable lens for identifying periods when the market may be at or near a floor.
Tracking Market Tops and Potential Resistance Zones
In a separate analysis report, CryptoOnchain highlighted tools for identifying potential market tops. The indicators outlined include the realized_price_x2 and realized_price_x3, which are calculated by multiplying Ethereum’s realized price by two and three, respectively.
Historically, these levels have coincided with overheated phases of the market, where prices reached temporary peaks before correcting.
Another tool, the price_top_stddev, incorporates volatility into the analysis by adding two times the historical standard deviation of ETH’s closing price to the realized price.
This combination serves as a marker of statistically elevated prices, often aligning with periods of heightened euphoria and speculative activity. CryptoOnchain suggests that monitoring these zones can assist traders in managing risk during extended rallies, as these resistance levels have previously preceded major cycle reversals.
Featured image created with DALL-E, Chart from TradingView
Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.
Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.
Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.
When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)
Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.
In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.
Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”
PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
