Ethereum Spot Premium Signals Strength – $2,800 Resistance In Focus
Ethereum is showing signs of renewed strength as it continues to trade above the $2,700 level, reaching as high as $2,790 in recent hours. The price action has energized the market, with many analysts now calling for a major breakout that could not only lift ETH further but also trigger the long-awaited altseason. Related Reading: Altseason Loading? Analyst Explains How FTX $5B Distribution May Trigger The Next Bull Leg While Bitcoin has led the rally for most of the year, Ethereum appears to be catching up. According to top analyst Daan, the ETH spot premium remains firm, signaling....
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The open interest on Ethereum futures hit a record $6.5 billion as ETH rallied to $1,750 and traders increased their leverage. Ether (ETH) price has rallied by 33% over the last five days and data shows that as this occurred some buyers began to use excessive leverage. Although this is not necessarily negative, it should be considered a yellow flag as a higher premium on futures contracts for short periods is normal.ETH/USD 4-hour chart. Source: TradingViewAlthough Ether’s upward movement has been going for an extended period, it was only in February that Ether finally broke the $1,500....
ETH price is stuck in a rut and these three metrics suggest the downtrend is nowhere near an end. Ether (ETH) is still in troubled waters after failing to break a five-week-long descending channel top for the third time in a row. The March 2 test of the $3,000 resistance was followed by a 17.5% correction in five days, which signals that buyers are somewhat reluctant to defend the price.To date, Ether suffers from high network transaction fees, even though it dropped from $19 in mid-February to the current $13 per transaction. While this is less than peaks seen previously, $13 per....
Bitcoin’s three-month futures premium reached a record-high of 50%, signaling market inefficiencies. Bitcoin (BTC) has been struggling to break the $60,000 resistance for almost a month. But despite the impasse, BTC futures markets have never been so bullish. While regular spot exchanges are trading near $59,600, the BTC contracts maturing in June are trading above $65,000.Futures contracts tend to trade at a premium, mainly on neutral-to-bullish markets, and this happens on every asset, including commodities, equities, indexes, and currencies. However, a 50% annualized premium (basis) for....
Analysts search for bearish signals after the June BTC futures trade below spot exchange pricing. An unusual phenomenon called 'backwardation' is taking place in Bitcoin (BTC) futures trading, mainly the June contract, which expires on June 25. The fixed-month contracts usually trade at a slight premium, indicating that sellers request more money to withhold settlement longer. Futures should also trade at a 5% to 15% annualized premium on healthy markets, in line with the stablecoin lending rate. This situation is known as contango and is not exclusive to crypto markets.Whenever this....
A long-term arbitrage play from institutional investors may explain why shares in Grayscale’s Ethereum Trust have tanked by 50% in two weeks while Ether rallied 75%. Shares in fund manager Grayscale Investments’ Ethereum Trust plummeted by 50% this past fortnight, despite Ethereum rallying by 75% over the same period.ETHE shares represent 0.09620794 of an Ether each and are currently trading for $13.80 — roughly a 21% premium over the spot price of ETH.Grayscale’s ETHE shares have been on a roller coaster ride, surging around 500% from $4.20 at the start of October, before topping out at....