Ethereum’s Negative NRPL Could Foretell a Positive Price Movement

According to data from Santiment, a few weeks of Ethereum (ETH) analytics helping investors profit led to a consolidation of the cryptocurrency around the $1,800 price range, which caused the Net Realized Profit/Loss (NRPL) indicator to turn negative. The NRPL of ETH published a negative value for the first time in the past three weeks on July 6th, at -2166.27. ETH NRPL! Generally, when a cryptocurrency’s NRPL is negative, it usually signals a higher probability of a future positive price movement. For ETH, a negative NRPL demonstrates that many investors who bought ETH in the past are now underwater with their positions. This situation could create buying pressure as these investors attempt to offset their losses, which historically has been associated with a potential price increase. Data obtained from CoinMarketCap shows that at the time of writing, ETH was trading at $1,883. While its value increased by 0.25% during the […] The post Ethereum’s Negative NRPL Could Foretell a Positive Price Movement appeared first on COINTURK NEWS.