Three key Ethereum price metrics suggest that the cryptocurrency may experience further declines in the near future.
The first metric to consider is the ETH/USD exchange rate, which has been gradually declining in recent days. This downward trend suggests that investors may be losing confidence in Ethereum, leading to a potential drop in price.
Another important metric is the trading volume of Ethereum, which has also been decreasing. A decrease in trading volume indicates that fewer traders are actively buying and selling Ethereum, which could contribute to a further decline in price.
Lastly, the number of active addresses on the Ethereum network has been on a downward trajectory. This metric indicates that there may be less overall interest and activity surrounding Ethereum, which could lead to a decrease in price.
Overall, these three metrics point to a potential further downside for Ethereum in the near future. Investors should closely monitor these indicators to make informed decisions about their investments in Ethereum.