COINOTAG News, May 9th – Recent analysis from Santiment indicates that the aftermath of the Pectra upgrade has been marked by a decline in Ethereum’s (ETH) price. In the wake of this downturn, many retail investors swiftly liquidated their positions, redirecting funds towards various Memecoins. However, ETH has recently demonstrated resilience, recovering to the $2,075 level over the past two days, a notable resurgence not seen in over six weeks. This turnaround may reflect a contrarian trading strategy, positioning savvy investors to capitalize on market emotions, thereby presenting a compelling case for those monitoring Ethereum’s recovery dynamics. The current trajectory invites further scrutiny, especially as market sentiment shifts among crypto traders.
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