These 3 Signs Show Ethereum’s 35% Surge Could Soon Be “Halted”

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“Explosive” would be a good term to describe Ethereum’s price action over the past week. Per data from TradingView, the asset is up approximately 35% in the past seven days when assuming the $230 highs the asset surged to. Analysts say this rally is a byproduct of the strong fundamental trends that the underlying Ethereum blockchain is seeing. These trends include ETH2 moving closer, adoption of decentralized finance, and Ethereum finding use as tools for prominent companies like Reddit and Ernst and Young. Three on-chain and social signs, though, indicate the asset could soon face a correction. Ethereum Could Face a Correction, Predicts Blockchain Data Firm According to blockchain analytics firm Santiment, there are four signs that Ethereum’s ongoing rally may soon halt. The company shared this list of trends on Twitter on July 28th. They are as follows: Mentions of “Ethereum” on social media have spiked to highs not…

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