NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Data Shows Twitter Follow Count of Ethereum Has Close Correlation With ETH Price

Ali Martinez
Ali Martinez
1 year ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

With Ethereum 2.0 on the works, the debacle about where this cryptocurrency is headed next has intensified. Some of the most prominent analysts in the industry argue that it could serve as the catalyst for a new bull run. Meanwhile, there are others who maintain that a major correction is underway.

A renowned chartist under the pseudonym TraderXO, for instance, recently anticipated that Ethereum was bound for an upswing before continuing its march towards $142. Now that the smart contracts giant has indeed surged more than 17% from Monday’s swing low, it could be gearing up for a massive bearish impulse.

Given the unpredictability of the crypto market, every scenario must be taken with a grain of salt. Nevertheless, fundamental metrics suggest that such a pessimistic outlook may actually come true.

Ethereum Twitter Follow Count as a Price Forshadower

The changes in the number of followers on Ethereum’s official Twitter account appears to be highly correlated with the price action of this altcoin. As a matter of fact, each time Ether’s Twitter followers’ count goes down, its price tends to follow.

This odd correlation has been developing for more than a year, which adds credence to its predictive powers over the price of ETH. And, Santiment’s Twitter changes index helps visualize this trend.

Following Ether’s peak of $363 in late June 2019, for instance, the 7-day average of the number of Twitter followers that Ethereum had entered a downward momentum. By the time this indicator was down more than 40%, the selling pressure behind ETH accelerated pushing it down towards $191.

A similar phenomenon occurred in mid-February of the present year. As Ethereum reached a yearly high of $287, the 7-day Twitter changes average began dropping from a value of 933 to 390. One day later, ETH dropped by 27%. Then, Santiment’s metric took another massive nosedive, which was followed by the infamous March market meltdown.

Ethereum Twitter Changes. (Source: Santiment)
Ethereum Twitter Changes. (Source: Santiment)

Now, this fundamental gauge seems to have topped on April 30 going from a high of 1132 to recently hitting a low of 183. The significant down movement took place as Ethereum was peaking at a high of $227.

Since then, the smart contracts giant is down by more than 12 percent. However, the degree of the slope in which the 7-day Twitter changes average went down suggests that ETH may be bound for a steeper decline.

Strong Support Ahead

A spike in sell orders might be able to push the price of Ethereum down as the aforementioned index implies. IntoTheBlock’s “In/Out of the Money Around Price” (IOMAP) model reveals that on its way down Ether could find strong support around $180.

Here, nearly 1.5 million addresses bought 6.35 million ETH. Such an important supply barrier may have the ability to contain the smart contracts giant from a further decline. But if it fails to do so, the IOMAP shows that the next area of support sits around $158.

In/Out of the Money Around Price. (Source: IntoTheBlock)
In/Out of the Money Around Price. (Source: IntoTheBlock)

Only time will tell whether or not Santiment’s 7-day Twitter changes average proves to be right once again. If it does, it is very likely that sidelined investors will take advantage of this opportunity to get back into the market. A new inflow of fresh capital may have the ability to ignite the bull cycle that everyone has been talking about.

Featured Image from Unsplash
Tweet123Share203ShareSend
Ali Martinez
Ali Martinez

Ali Martinez

Ali began forex trading in 2012. In 2014, he came across Bitcoin’s whitepaper and was so fascinated by the idea of a decentralized, borderless, and censorship-resistant currency that he started buying Bitcoin. By 2015, he started traveling to spread the word about Bitcoin. Now, he is a content producer for some of the leading media outlets in the cryptocurrency industry.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum

Ethereum Breaks Critical $2,800 Level — Can Bulls Hold For Major Rally?

Popular market analyst with X username Daan Crypto has provided an important insight into the Ethereum market, stating the altcoin...

Semilore Faleti 8 hours ago
Solana

Solana (SOL) Set For Price Run To $2,700 — But This Condition Must Hold

Solana (SOL) has registered a 0.58% loss in the past day, representing a slight price retracement from its strong weekly...

Semilore Faleti 11 hours ago
Bitcoin

Who Flipped The Switch? Bitcoin STHs Accumulate While LTHs Take Profit

Over the last month, Bitcoin ranged within the $100,000 — $110,000 price region until its recent breakout to reach a...

Opeyemi Sule 12 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Bitcoin Stalls After Rally: Will It Blast Through $125,000 Or Slip Back To $110K?

Scott Matherson 3 hours ago
Bitcoin

Kiyosaki Awaits The Next Bitcoin Sale: ‘My Fellow Pigs And I Are Feasting’

Christian Encila 5 hours ago
Ethereum

Ethereum Chart Confirms Bull Flag Breakout: $3,834 Target Comes Into View

Scott Matherson 6 hours ago

Premium Sponsors

Press Releases

  • アルトコイン急騰の今買うべき仮想通貨プレセール

    ...

    6 hours ago
  • 仮想通貨おすすめ|強気市場で爆発的成長が見込まれる注目のミームトークン

    ...

    7 hours ago
  • BTC最高値更新の中で注目される新たなレイヤー2プロジェクトが狙う仮想通貨1000倍の可能性

    ...

    7 hours ago
  • ビットコインが11万8,000ドルの最高値を記録する中で注目すべき仮想通貨プレセール

    ...

    1 day ago
  • 仮想通貨 おすすめ|急騰するDogwifhatとFartcoin、注目の低価格ミームコインとは?

    仮想通貨...

    1 day ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.