Investors expect the ETH price to rise to $ 400

  • Investors expect the continuation of the bullish trend of the ETH

  • ETH token may reach $ 400 by the end of the week

  • ETH futures trading volumes are growing

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The value of the ETH token has approached a new record high. Today the coin is trading at $ 396. According to the options market, investors expect the ETH value to rise to $ 400 by the end of the week.

Open interest in ETH options increased 5 times

Open interest in options on Ethereum has increased 5 times over the past three months and reached $ 337 million. And although this figure is far from indicators of open interest in options on bitcoin, which exceeds 1.8 billion, it is worth noting that ETH reached the same level. as BTS 15 months ago.

To predict the price movement of a crypto coin, traders and investors use a tool such as comparing open interest above and below current market levels..

There are currently 530k ETH options below $ 370 expiry compared to 280k.

Investors expect the ETH price to rise to $ 400

ETH with strikes above $ 400. This indicates 65% of options strikes, regardless of calls or puts, are below current market levels..

Such an indicator can prove that most traders did not expect such a strong rally, although this does not necessarily mean bearish sentiment.. 

Given enough time, more trades should go past $ 400 expiration and this ratio can balance out.

In other words, based on the indicators of open interest, we can conclude that investors expect the value of the ETH to reach $ 400 in the near future..

Signals indicate a bullish trend

The weekly chart shows that Ethereum began an upward movement, settling in the area of ​​long-term resistance of $ 375- $ 400, which acted as support in April 2018, after which it turned into resistance in June last year. Quotes are in the middle of this range, but failed to show the weekly close above its upper border and formed a long upper wick. The next resistance is represented by the 0.5% Fibonacci retracement level relative to the bullish move at $ 455. BeInCrypto reported this earlier.

It is also worth noting that the trading volume in ETH futures reached record highs.

Investors expect the ETH price to rise to $ 400

In July, the indicator reached 3-month highs. Cumulative daily turnovers are nearly $ 6 billion, and the recent high is the top of a pattern that kicked off earlier this month..

The highest trading volumes are noted on Huobi and OKEx, but interest in futures can be traced on other exchanges..

Open interest in ETH options is also increasing, exceeding $ 250 million in the last week.

Investors expect the ETH price to rise to $ 400

Over the past three months, the indicator has grown fivefold. The main open interest in options contracts is noted on the Deribit exchange.


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Investors expect the ETH price to rise to $ 400

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