A resistant level is reached by Ethereum prices which is still not enough for traders to add leverage. As per sources, the price of ETH has increased by 20% on 22nd February, which was at $2,300 before. The investors are still careful which is portrayed by their behavior. The overhead resistance may stay ahead though the price of Ether had reduced by 24% for the entire year. The major problem faced by Ethereum is its high fees of network transactions which is a long-term threat to the investors even after the upgrade.
Top Traders of Ethereum Can Be Either Surprised Or Shocked
The transaction fee of the seven-day network is more than $18 though the value of TVL has decreased by 25% on 27th January which portrays the reason for the down-trading of Ethereum. The resistance is currently at $3,100 for the channel whereas the closing price stands at $2,500. Thus, for the downward trend to get over, a rally of 14% must occur.
There is a comparison between buying and sell options which are conducted by 25% of delta skew. Moreover, Ether failed to break the resistance of $3,200 and thus, was signaling bearishness. Hence, even after a price hike of 7.5% on 28th February, the market makers do not have confidence. It is recommended to analyze the future, perpetual contracts, and also the current position of the clients to get a clearer picture of the traders. It is better to report the changes rather than absolute figures as there can be discrepancies regarding it.
The top traders on Huobi, OKX, and Binance have reduced their leverage longs by 8% over the last four years. From the study of metrics, it is very clear that in the Ether market there is no sign of bullishness. Furthermore, options markets and futures markets both
