Ethereum risks drop below $3.2K as ETH price faces heavy resistance
A confluence of at least three different bearish indicators appears on Ethereum's multi-timeframe charts, suggesting that its ongoing bull run risks exhaustion.
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A confluence of at least three different bearish indicators appears on Ethereum's multi-timeframe charts, suggesting that its ongoing bull run risks exhaustion.
Bears are in deep trouble as ETH bulls are likely to pocket $115 million from Friday's options expiry.
The eerie deja vu scenario can see Ethereum hit $13,000 within six months if history repeats.
The three bullish indicators converge as Ethereum's native token Ether climbs over 9% Friday to cross $3,000, its psychological resistance level.
Ether price is stuck in a rut, but derivatives data shows pro traders are bullish even with ETH below $3,000.
Traders are long on Ethereum, but derivatives data suggests that $4,000 ETH is a long shot in the short term.
Traders who believe ETH will reach $5,000 can use this low-risk options strategy to cast a long bullish bet.