{"id":567203,"date":"2021-06-06T16:51:33","date_gmt":"2021-06-06T13:51:33","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=567203"},"modified":"2021-06-06T16:51:33","modified_gmt":"2021-06-06T13:51:33","slug":"negative-crowd-sentiment-towards-ethereum-may-push-its-price-higher","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/negative-crowd-sentiment-towards-ethereum-may-push-its-price-higher\/","title":{"rendered":"Negative Crowd Sentiment Towards Ethereum May Push its Price Higher"},"content":{"rendered":"
Crowd sentiment surrounding Ethereum is still in negative territory<\/a>. This is according to analysis that was shared by the team at Sentiment who also highlighted the possibility of such negative sentiment, propelling Ethereum<\/a> higher in the crypto markets.<\/p>\n The team at Santiment shared their forecast of Ethereum<\/a> through the following statement and accompanying chart.<\/p>\n Ethereum<\/span> is +20% over <\/span>Bitcoin<\/span>‘s +6%, and the crowd’s negative perception toward <\/span>$ETH<\/span> right now, according to our data, may just be fueling the price higher. We’re seeing commentary is more <\/span>bearish<\/span> than usual, which very often pushes prices upward.<\/span><\/p><\/blockquote>\n At the time of writing, Ethereum is trading at $2,675 as tonight’s weekly close inches closer. The latter event could be a volatile one, given Bitcoin’s failure to reclaim the 200-day moving average as support and a pending death cross<\/a> on its daily chart.<\/p>\n If Bitcoin continues to consolidate below the 200-day moving average during the weekly close, chances are that Ethereum will to trade above the $2,500 price level with $2k providing adequate support on a macro level. A weekly close above $2,500 by Ethereum would increase its chances of breaking the tough resistance level at $2,800 with the new week.<\/p>\n Historically, Ethereum usually performs well between the months of December and May in any year. The second half of the year is usually characterized by negative monthly gains for ETH. The following table, courtesy of Bybt.com, further demonstrates this fact.<\/p>\n<\/a>$2,800 Continues to be a Tough Resistance for Ethereum<\/h2>\n
Ethereum Has Lower Gains During the Second Half of Any Year<\/h2>\n