Is 1inch Poised for a Game-Changing Bounce Despite the Bearish Chaos?
Muted sentiment and steady accumulation show 1inch bullishness
Source: Santiment
AMBCrypto found that the weighted sentiment was negative, and has been for most of the second half of July. The funding rate dipped briefly into negative territory on 3 August, but it soon recovered. The falling Open Interest also underlined bearish sentiment in the derivatives market.
Together, they revealed that social media engagement was bearish and speculative traders were happy to stay out of the market. This, by itself, does not justify buying. The addition of the mean coin age changes the picture though.
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