PANews reported on April 23 that glassnode released an analysis on X platform, stating that the ETH supply chart shows a different situation compared to BTC. Although no significant increase in ETH first buyers and momentum buyers has been observed, steady holders have remained active since late March (with their relative strength index RSI still maintaining a high level of 80). On the other hand, the activity of loss-selling sellers peaked on April 16 and is currently showing a clear slowing trend (RSI<50).
Glassnode: ETH firm buyers have been active since late March, and the activity of loss-making sellers has now slowed down
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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