Ethereum approaches a new ATH, but derivatives data reflects mixed emotions

Ethereum approaches a new ATH, but derivatives data reflects mixed emotions
© Reuters

Today Ether (ETH) price briefly touched $4,760, exciting investors and reminding the world that the altcoin is a mere 2.2% below the $4,870 all-time high reached 20 days ago. While the spot price action might be intriguing, let’s see what’s happening in Ether’s derivatives markets.

Ether ETH/USD price at Bitstamp. Source: TradingView

While it is possible to draw a descending channel that shows support at $3,960, today\’s 5.4% positive move seems decoupled from Bitcoin\’s (BTC) negative performance.

Ether perpetual futures 8-hour funding rate. Source: Coinglass.com
Exchanges top traders ETH long-to-short ratio. Source: Coinglass.com

Continue Reading on Coin Telegraph

Related posts