Ethereum Consolidates But Open Interest Points to Potential Breakout
Ethereum currently shows a stable price growth. As the overall increase in the cryptocurrency market has risen, Ethereum has risen by 6%in the past day. This rising momentum was after the news of the establishment of administrative orders in the United States to establish a national digital asset inventory, which helped create a positive market environment.
In this context, Cryptoquant analyst Shayanbtc provides a new point of view: view About the current trajectory of Ethereum. Shayan emphasizes the interesting difference between Ethereum futures that has been increasing and the price that has not reached the price that has not yet reached the previous high.
The growing futures market and differentiation price trend
Shayan said on a recently uploaded article on the Cryptoquant Quicktake platform that Ethereum’s unbounded contract (indicator of active futures contracts) has soared Maximum level In recent weeks, this shows that market participation has improved and traders’ interest has become increasingly strong.
The analyst pointed out that the increase in the increase in ETH’s unclear contracts and the slow price response indicates that there is a disconnection between market emotions and price performance. Although futures traders are optimistic, this optimism has not yet transformed into Ethereum Breakthrough key resistanceEssence The analyst wrote:
Interestingly, there are differences between Ethereum and futures market activities. Despite the significant increase in liquidation contracts, the price before the price has not yet broken, showing the potential imbalance between market expectations and price trends.
Sarkon also pointed out that the increase in the increasing liquidation contract may lead to fluctuations. From a historical point of view, after a large increase in the uncle -liquidation contract, Price fluctuations Because the position is liquidated.
Although the next trend is still uncertain, the current activities and emotions tend to be a potential bullish breakthrough. Shayan said that if Ethereum can break through the key resistance level, it may pave the way for longer rebounds.
Market concerns and loser indicators
In contrast, Darkfost, another Cryptoquant analyst, put forward a more cautious view prospectEssence Darkfost pointed out a series of drop factors, including Ethereum inflow and the increase in Binance reserves.
According to data shared by Darkfost, since September 2024, the inflow of Ethereum has continued to exceed the outflow, resulting in an increase in foreign exchange reserves. This trend reflects Sell pressureAs more and more Ethereum is transferred to the exchange, this may indicate intended to be sold rather than holding.
In addition, the ratio of the reception of Binance has been declining for several months, showing the continuous dominant position of the selling order. Darkfost revealed that the changes in these indicators show that some investors may lock profits or redistribute capital to other places, resulting in more Market emotions cautiousEssence
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