According to a recent report by Odaily sentiment analysis platform Santiment, after a brief rebound, the market is showing signs of fatigue again, and the buy signals that appeared last week are no longer significant. Ethereum is approaching a strong resistance zone between $3,200 and $3,250, which may become a crucial level to test the market's strength.
The report points out that the social trend of "buying on dips" has faded, replaced by panic and potential liquidation risks, reflecting significant fragility in market sentiment. On-chain data shows a marked slowdown in buying activity from large Bitcoin holding addresses, while smaller retail wallets have begun to increase their holdings. This structural shift is often seen as a harbinger of a potential market correction.
Overall, Santiment believes that market confidence is weakening and that "remaining cautious and waiting for clearer signals" may be a more prudent strategy given the waning strength of the rebound.
