Key control
The transfers of Tokens Morfo whales combined with peaks in the age consumed showed previously inactive tokens that were moving, probably to sell, and a price drop at $ 2 was possible.
Morpho [MORPHO] He has been in slowly higher trend since April. The Altcoin rose 154% in five months, but still had 48% below its historical maximum of $ 4.17, which had reached in January.
Source: Santiment
Santimento data showed that $ 2 million were sent in Morfo to the centralized exchange bybit in the last 24 hours. This represented 0.3% of the market capitalization of the asset, which was $ 723 million at the time of writing.
In general, Token transfers to exchanges indicate an imminent sales pressure. Should Morpho’s investors be worried about a price setback?
Ambcrypto discovered that the metrics in the chain reflected healthy levels of activity, but they also came with a warning note.
Morfo accumulation in September resumes
Source: Santiment
The update distribution table showed that sharks and whales that had 10k-1m morph tokens had been selling from mid-July to mid-August.
During this contraction of one month in the supply of this maintained cohort, other lots of Morfo headlines continued to grow in number.
This showed a constant purchasing pressure of shrimp to wallets from Morpho whales, which was an encouraging view for long -term investors.
Source: Santiment
The network activity metrics were at relatively healthy levels in the last three months. The daily active addresses rose in July and has preserved that jump as a baseline in the following months.
The growth of the network, which captures the number of new addresses that are created in the network every day, was also in relatively healthy figures in the last six months.
Together, these metrics showed that the activity of the network continued the APACE regardless of pricing volatility.
However, the age and average age of the consumed currency were closely linked to the era of the Morfo Tokens that remain in the wallets. The average age of the currency did not have a strong trend in the last two weeks.
In addition, the metric consumed of age saw sporadic and acute peaks since August 22. This showed that a large amount of previously inactive tokens moved, probably for sale purposes.
In the last three days, the age consumed saw another series of upplices, according to the initial idea that Morpho could see short -term sales pressure.
Source: Canderlasss
Since the price is based on liquidity, the liquidation heat map can help to understand where the next key price objectives for Morfo were. The heat map of the 1 month period revealed a strong magnetic zone at $ 2.23 above.
To the south, the psychological support of $ 2 was also a remarkable liquidity pocket. Therefore, in the case of a sale of $ 2, $ 2 should provide an attractive purchase opportunity.
Meanwhile, a movement beyond $ 2.23- $ 2.28 would indicate a bullish force.
