successfully broke above a bullish falling wedge pattern a few days ago. Since then, the king of altcoins has been on track and has earned investors profit.World Of Charts, a popular crypto analyst, recently posted aThe token’s price has consolidated inside the pattern since March and finally broke out a few days ago. Since then, ETH seemed to be on the right track, as its price increased by almost 5%.
To see whether this sluggish 24-hour price action could lead to a price correction, AMBCrypto checked Ethereum’s on-chain metrics.revealed that ETH’s net deposit on exchanges was low compared to the last seven days’ average. For the uninitiated, the NVT ratio is computed by dividing the market cap by the transferred on-chain volume, measured in USD.
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