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Ether market sentiment hits highest level since March 2023
Ether’s long-term sentiment rose to its highest level in over a year yesterday.
getty
By one measure, market sentiment towards ether rose yesterday to its highest level in 14 months.
The digital currency’s long-term sentiment, calculated by measuring the positivity of recent posts on 3 June. , according to data from the cryptocurrency analytics provider Tie.
At this point, the metric was at its highest since March 24, 2023, further data from The Tie reveals.
The chart below shows how the cryptocurrency’s long-term sentiment has fluctuated over the past few months:
Ether price and sentiment in recent months
Tie
More specifically, The Tie calculates long-term sentiment by comparing the number of positive posts on X in the last 50 days to the previous 200 days.
Any score above 50 signals that conversations were more optimistic in the first period than in the second period. A score below 50 points means the opposite.
The indicator above hit its highest value in more than 14 months on a day when ether prices experienced modest volatility, trading within a relatively narrow range between $3,700 and $3,900. CoinMarketCap data show.
The digital currency has shown limited volatility in recent weeks after posting a strong gain on May 20, rising from under $3,100 to nearly $3,700, further data from CoinMarketCap reveals.
Disclosure: I own bitcoin, bitcoin cash, litecoin, ether, EOS and SOL.