Here's why Ethereum traders could care less about ETH's current weakness
ETH price could hit new lows near $3,600, but derivatives data suggests pro traders still feel bullish. Since hitting an all-time high at $4,870 on Nov. 10, Ether (ETH) price has been posting lower lows over the past 50 days. If this downtrend continues, the lower trendline support suggests that the altcoin will bottom at $3,600. Still, derivatives data is signaling that pro traders are not concerned about the seemingly bearish market structure.Ether/USD price on FTX. Source: TradingViewNotice how the price peaks are getting lower on the 12-hour time frame as mounting regulatory concerns....
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