On the 19th of May, AMBCrypto observed that Ethereum's [ETH] average transaction size had fallen to $2,767. This was a 54.13% decline from
Ethereum’s For the uninitiated, the average transaction size checks in dollar terms the mean transaction value for an asset on a particular day.As such, the recent state of Ethereum implies a presence of more retail users. Apart from that, this indicator identifies potential tops and bottoms.
From the value mentioned, it was obvious that ETH seemed closer to its bottom than the top. At press time, ETH’s price was $3,106, indicating that it had swung around the same range in the last 24 hours.As a result of this, AMBCrypto looked at the Ethereum Exchange Net Position Change. According to data obtained from Glassnode, the Exchange Net Position Change has been in the negative region for most of the last 30 days.This metric tracks the 30-day change of the supply held in exchange wallets.
This increase could be a sign that Ethereum participants are taking profits off the 6.50% increase within the last week.However, if exchange withdrawals intensify once more, the price might begin a slow increase toward $3,500. In a highly bullish situation, an increase to $4,000 could be an option.However, a reading below 0.50 implies otherwise. At press time, Ethereum’s Put/Call Ratio was 0.35, meaning that most traders expect the value of the cryptocurrency to increase in the coming weeks.
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