The company's specialists have noticed that negative sentiment towards Ethereum is growing on social networks. However, such pessimism may signal a possible change in the trend, which will be good news for long-term holders of the asset. Experts believe that the potential for a reversal will appear when the situation on the market stabilizes.
Santiment also emphasized that the recovery of Ethereum's lost positions will largely depend on the upcoming Pectra update, scheduled for April. It is expected that it can bring positive changes to the network, which will support the asset's price.
Earlier, CryptoQuant analysts noted that the unrealized profit indicator among large Ethereum holders reached a minimum, which was last recorded during the previous bearish cycle.