Analytics Firm: One On-Chain Metric is Flashing Warning Signs for Ethereum

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Ethereum’s price action has been slightly underperforming that of Bitcoin as of late The cryptocurrency has remained stuck beneath its crucial resistance level at $380, which points to some weakness amongst buyers Until this level is surmounted and ETH can regain its foothold within the $400 region, it may remain somewhat technically weak One fundamental metric seems to indicate that ETH is also plagued by some underlying weakness is its daily active address count This metric is still flashing warning signs, indicating that Ethereum has yet to fundamentally break its recent downtrend Ethereum’s price action has been struggling to keep up with that of Bitcoin as of late. While the benchmark cryptocurrency is now trading firmly within the $11,000 region, ETH is still trading below its crucial $380 resistance. Where the aggregated market trends next will likely depend almost entirely on Bitcoin, but there’s a possibility that ETH will continue…

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