Ethereum: U.S. investors look for other altcoins as ETH’s price falls

price decline since briefly trading above $4000 on the 11th of March has resulted in a drop in its Coinbase Premium Index , according to

This metric measures the difference between an asset’s prices on Coinbase and Binance. When its value grows, it suggests significant buying activity by US-based investors on Coinbase. Conversely, when it declines and dips into the negative territory, it signals less trading activity on the US-based exchange.

At press time, ETH’s CPI was -0.008. CryptoQuant’s data showed that when the altcoin’s price fell below $3200 on the 18th of March, its CPI cratered to a 30-day low of -0.1.Although the Asian markets follow a similar trend, an assessment of ETH’s Korean Premium Index showed that it remains positive despite the price pullback in the past few weeks.AMBCrypto’s assessment of ETH’s price performance on a daily chart hinted at the possibility of a decline in the coin’s value this week.

As of this writing, the altcoin exchanged hands at $3,474, witnessing a 4% price decline in the last week.measures the strength of money flowing in and out of an asset.Confirming the decrease in demand for the coin, its Relative Strength Index trended downward to return a value of 49.Further, ETH’s Parabolic SAR revealed that the bearish sentiment has been significant since the 15th of March.

Source: Digital Coin News (digitalcoinnews.net)

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