Re-identifying Trends by the Number of Failed Tx in ETH

Re-identifying-Trends-by-the-Number-of-Failed-Tx-in-ETH

For the umpteenth time in my many posts, the threshold for the ETH trend identification indicator has been exceeded again.

The last two times (? marked locations), the 9WMA did not clearly cross the threshold.
The timing of the last two times the 9WMA was crossed, the downtrend continued.
I am assuming that the trend will continue with the current crossing of the threshold.

Indicator re-description:
Comparing the number of failed ETH transactions (9WMA) with BTC and ETH prices since June 2020, when DeFi was particularly prevalent, I found that the number of failed Tx above 200,000 is relatively consistent with a market trend change or continuously.

First Quicktake:
https://cryptoquant.com/quicktake/62346730bcddf73b8391de2b-Identifying-Trends-by-the-Number-of-Failed-Tx-in-ETH