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ETH struggles to bypass resistance range but open interest suggests…
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Ethereum’s native cryptocurrency ETH achieved a new YTD high during Thursday’s (16 February) bull run. However, it has since pulled back, confirming that the bulls are battling strong resistance.
A key observation just occurred in the derivatives market that may offer insights into the next move.
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The state of the derivatives market often provides a rough view of liquidity flows, hence its importance in determining a trend.
According to the latest Glassnode alerts, ETH’s open interest in perpetual futures just reached a new 4-week high. The last time that the same metric soared to its current highs was in November last year.
<p lang=«en» dir=«ltr» xml:lang=«en»> Read more on ambcrypto.comAbout this in other media
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