Santiment, a crypto sentiment analysis platform, reports that the cryptocurrency market is showing signs of fatigue following a recent rebound. The clear buy signals observed last week have dissipated, with Ethereum nearing a critical resistance zone between $3,200 and $3,250. This level is expected to test the market's strength significantly.
The report highlights a shift in social sentiment from 'buying on dips' to panic, with potential liquidation risks looming. On-chain data reveals that large Bitcoin wallets are reducing their buying activity, while smaller retail investors are beginning to accumulate, a pattern often preceding market declines. Santiment advises caution, noting that the market faces multiple challenges and the confidence of major players is diminishing, suggesting that waiting for clearer signals is prudent.
Santiment Warns of Market Fatigue Amidst Waning Buy Signals
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