Ethereum derivatives lean bullish even as ETH price sits at a key support
Ether price is trading near a critical support level, but derivatives data suggests pro traders expect more downside in the short term. Ether (ETH) lost the $1,750 support on March 22, which marked a 7% loss and $230 million worth of futures contract liquidations. It has been holding near the strong support at $1,670, although investors are unwilling to open new long positions despite the price being 11% below the previous week's high.Ether price on Coinbase, USD. Source: TradingViewBinance Chain recently surpassed Ethereum's transaction volume, and this startling growth in unique active....
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Data shows the Bitcoin investors on derivatives exchanges still lean bearish toward the cryptocurrency even after the recent price recovery. Bitcoin Short Positions Still Outweigh The Long Ones In a new post on X, on-chain analytics firm Glassnode has talked about how Bitcoin market sentiment is looking from the lens of the derivatives market right […]
Bitcoin and Ethereum are in the green on high timeframes. The first and second cryptocurrencies by market cap seemed to be recovering well, after months of sustained selling pressure. At the time of writing, BTC trades at $49,319 with a 1.4% profit in the daily chart. Earlier, Bitcoin was rejected as it made its way back north of $50,000. BTC’s price lost its first level of support at $49,800 and now sits at risk of returning to the mid-range of its current levels, around $46,000. This could be positive for Ethereum, as the second cryptocurrency by market cap keeps outperforming Bitcoin. A....
Ethereum has been slowing down on its bullish momentum. The second cryptocurrency by market cap trades at $3,066 with a 4.2% loss in the daily chart. After two weeks of profits and an incredible rally from the low at $2,000, mostly driven by the implementation of EIP-1559, Ethereum could see some downside in the short term. The In/Out of the Money Around Price (IOMAP) metric, used to measure the average purchase price of a crypto asset and compared it to its current price, from IntoTheBlock suggests Ethereum sits at “stable support”. Analyst Ali Martinez shared the chart below and....
With a 3,7% loss in the last week and 2.7% in the last hour, Bitcoin’s price sits near critical support. On the other hand, Ethereum managed to climb to a new all-time high and sits on top of two fast-growing sectors: DeFi and NFTs. Former Goldman Sachs Executive Raoul Pal has shown data to demonstrate […]
Ethereum continues to struggle after falling below $3,000. This price point was critical for bulls to hold and ever since bears dragged the price below it, it has been a continuous display of dips and crashes. For a cryptocurrency like Ethereum, there are resistance and support levels that are very important for the digital asset. One of those support levels sits just above $2,500. So far, the digital asset has managed to maintain above this point. This shows that bulls are mounting significant support. However, with momentum falling and selling pressure up, it remains shaky at this point.....