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Should You Buy Ethereum (ETH) on the Dip? Our Sentiment Analysis Offers Perspective

Jun 05, 2019

Better Data for Better Investment DecisionsBetter Data for Better Investment Decisions
Better Data for Better Investment DecisionsBetter Data for Better Investment Decisions

 

  • Not surprising to see that yesterday’s crypto sell-off, which sent the price of Ethereum (ETH) lower by 6.51% for the day, resulted in a steep drop-off in ETH’s Network Value to Transaction Ratio (NVT Ratio). Still, ETH’s NVT Ratio still sits at a moderate level relative to the last month of trading. The Quantamize Crypto Trading Signals currently rate ETH as a “BUY”, however, so it may be worth considering buying the world’s largest altcoin on this discount.  
     
  • The peak in ETH’s NVT Ratio prior to its drop-off Monday was likely the result of depressed network activity rather than a rise in the price of the coin. As can be seen in ETH’s volume chart below, ETH observed the lowest daily volume in nearly a month that coincided with the peak in its NVT Ratio. 
     
  • Curious to see that ETH’s sentiment, both on a social and article basis, observed to significant peaks over the weekend prior to Tuesday’s sell-off of the cryptocurrency.  

 

Ethereum (ETH) Volume - Last 30 Days

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Average Ethereum (ETH) Article Sentiment - Last 30 Days

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Ethereum (ETH) Article Count - Last 30 Days

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We Crunch the Numbers, You Make the Trade.We Crunch the Numbers, You Make the Trade.
We Crunch the Numbers, You Make the Trade.We Crunch the Numbers, You Make the Trade.

 

Overall Ethereum (ETH) Social Sentiment - Last 30 Days

ethereum-overall-social-sentiment

Ethereum (ETH) Google Trends - Last 30 Days

ethereum-google-trends

Ethereum (ETH) Network Value to Transaction Ratio - 10-Day EWMA - Last 30 Days

 

ethereum-nvt-data

 

 

 

Global Top Stock IdeasTOP LONG & TOP SHORT STOCK IDEAS FOR GLOBAL MARKETSMONTHLY TOP IDEAS FROM OUR MULTI-FACTOR QUANTITATIVE MODELS
Global Top Stock IdeasTOP LONG & TOP SHORT STOCK IDEAS FOR GLOBAL MARKETSMONTHLY TOP IDEAS FROM OUR MULTI-FACTOR QUANTITATIVE MODELS