Altcoins News
By Maheen Hernandez
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Ethereum has been navigating a bearish market structure, with a notable resistance around the $2.8K zone, which has proven difficult to break through.
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At present, the 61.8% and 78.6% Fibonacci retracement levels are continuing to act as support, but overall, the market structure remains bearish, with buying pressure having…
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Ethereum’s Estimated Leverage Ratio (ELR), which measures speculative sentiment by dividing Open Interest (OI) by coin reserves, is a crucial metric in assessing the likelihood…
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Furthermore, Ethereum’s Open Interest has increased from $13.3 billion to $14.2 billion over the past few days, coinciding with a price bounce from $2.5K to $2.7K.
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However, the liquidation heatmap provides a critical clue about potential price movements. A large pocket of liquidity exists between the $2.
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The next key resistance after the $2.8K zone lies at the $3.5K level, but this target seems distant for now. Ethereum’s immediate price trajectory is critical.
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In summary, while there is some optimism for Ethereum’s price, especially with the potential bounce towards $2,880, the current market signals suggest that traders need to…
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