Thread by @investindigital

7 signals showing $ETH is ready for a big move up after its recent 78% monthly rally👇

1. NUPL currently sits in the Belief - Denial phase and continues to diverge from price.

As price moves higher and NUPL moves lower, it indicates $ETH could go vertical soon.

NUPL is a gauge for the market’s emotional state.

2. For the first time, #Ethereum Google search interest is now higher than Bitcoin.

Google searches and price action are running in parallel with one another.

Ethereum searches are going parabolic while #Bitcoin searches drop/level off.

3. What about the #dogecoin?

#Ethereum Google search interest is smoking dogecoin search interest despite @elonmusk and Tiktok Trader's best efforts.

Much Wow!

4. Whale Wallets spiked suddenly (wallets w/ greater than $10K ETH) on April 18th and continue to rise in unison with the price.

$ETH loans are up 400% and make up 27% @genesistrading loan book as hedge funds ape into Defi summer 2021.

5. $ETH continues to leave exchanges in unison as the price rises, which is a signal it won’t be sold anytime soon.

6. 79,520 $ETH were transferred to the ETH2 deposit contract on May 5th, 2021, a few days after @coinbase opened staking.

The amount of new value staked could accelerate through the summer.

7. The Number of active $ETH addresses continues to increase.

As Google search interest rises, so will active ETH addresses, putting pressure on price upwards.