2 key Ethereum price metrics prove pro traders are behind ETH’s new highs
Ethereum futures data suggests that pro traders believe $3,500 ETH is the next stop for the top altcoin. As Ether (ETH) made a $2,800 all-time on April 29, so did its futures open interest. The $8.5 billion figure marks a 52% monthly increase and shows robust trading activity behind the meteoric price rise.Some analysts might dismiss Ether derivatives, considering CME's future has $355 million in open interest compared to Bitcoin's $2.4 billion. However, Ether contracts were only launched a couple of months ago. Both FTX and Deribit require 100% full-KYC for their clients, and these....
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The crypto market has been plagued with increased volatility lately, with the second largest crypto token by market cap, Ethereum (ETH), not exempt. This has made it harder to determine Ethereum’s future trajectory. However, certain metrics indicate what direction ETH’s price could head in when this volatility subsides. Ethereum Investors Are Bullish Data from Coinglass shows that most Ethereum investors and traders are still bullish on the crypto token despite recent fluctuating prices. Specifically, most of these traders have continued to open long positions on Ethereum, meaning they....
Ethereum has seen some notable momentum in recent days that has allowed its price to set fresh all-time highs Each break above its previous all-time highs around $1,450 has been fleeting, however, which is a grave sign that could mean downside is imminent For now, ETH’s price action remains firmly correlated to that of Bitcoin, with the benchmark cryptocurrency seeing some turbulence that has shaken its market structure One analyst is now pointing to a […]
Leading the crypto market for the past month, Ethereum still displays conviction as it moves back to previous highs. The second cryptocurrency by market cap has slow down in the past day, but still seems bullish to records more gains in the short term. At the time of writing, ETH trades at $3,157 with a 2% loss in the daily chart. After the EIP-1559 was introduced with the Hard Fork London, Ethereum took a stronger momentum to the upside. Pseudonym trader Jackis has been keeping a close eye on ETH’s price, charting its potential short- and long-term scenarios. The former could see some....
Attention is firmly on the short-term future of Ether after Ethereum's native cryptocurrency surged to new all-time highs above $3,500. The next few months promise to be exhilarating and decisive for Ether (ETH), as its recent all-time highs above $3,500 put an even bigger spotlight on the cryptocurrency and its smart contract blockchain, Ethereum.As the cryptocurrency markets continue to grow five months into 2021, both the preeminent Bitcoin (BTC) and a host of other blockchain projects and tokens have soared in value, chief among them being Ether. The second-biggest cryptocurrency by....
Ethereum rides ahead on the crypto market’s most recent trend to the upside. As of press time, ETH, BTC, and larger cryptocurrencies show signs of recovery with potential for continuation in the short term, if they manage to break above their resistance levels. Related Reading | Ethereum Price Surges 30% Over Last Week Lows, Addresses Holding Over 0.1 ETH Reach New ATH As of press time, Ethereum (ETH) trades at $2,788 with a 6.5% profit in the last 24 hours. Data from Arcane Research indicates that Ethereum has seen its seventh 50% drawdown since its inception. The second crypto by....