ETH Price Analysis: Bulls Extend ETH/USD Upside Bias Past $230 Pivotal Level Following Ethereum Options Open Interest Upsurge

Total
0
Shares

Ethereum price caught hold of the path of market capitalization’s leading cryptocurrency, Bitcoin. Ethereum (ETH) price is increasing by a whopping 7.5 percent in 24 hours hitting an intra-day peak of $238, with a market cap of $25.9 billion. ETH/USD extended the bullish phase beyond the high of Friday at $225 past the pivotal level of $230. On Saturday Ethereum (ETH/USD) gained traction and advanced to its highest level since March. The pair is rising in value at $237 at the time of publishing. Ethereum is now growing more than 16 percent since the outset of the week with this latest upsurge. Interest amongst investors in the Ethereum options has never been higher. Skew analytics revealed that Ethereum option contracts on leading derivatives exchange Deribit has hit a fresh all-time high of open interest over $108 million. The above suggests that over the next few months more investors may be hedging their bets as it relates to Ethereum’s price.

*Ethereum (ETH) price is increasing by a whopping 7.5 percent in 24 hours hitting an intra-day peak of $238
*ETH/USD extended the bullish phase beyond the high of Friday at $225 past the pivotal level of $230
*Skew analytics revealed that Ethereum option contracts on leading derivatives exchange Deribit has hit a fresh all-time high of open interest over $108 million

Key Levels
Resistance Levels: $266, $250, $240
Support levels:$220, $206, $190

ETH/USD Daily Chart: Bullish

ETH/USD 4-Hour Chart: Bullish
Leave a Reply

Your email address will not be published.

You May Also Like