Crypto intelligence firm Santiment says doubt surrounding Ethereum’s recent rally back above $1,800 may indicate that the top smart contract platform is finally breaking out.
An extreme level of skepticism surrounding a particular asset is a historically bullish signal in the crypto markets, notes Santiment, and many are questioning whether Ethereum (ETH) can actually remain above the $1,800 level this time around.
“Ethereum has wobbled its way back above $1,800, and the crowd has serious doubts on whether it’ll last. This extreme level of crowd skepticism is historically bullish for crypto coins.”
The crypto analytics firm adds in a blog post that negative sentiment on Twitter for Ethereum has hit a record high for the year.
“We’re currently seeing the most negative Twitter sentiment of 2021. The crowd is in disbelief, and this is a bullish