Ethereum options data shows pro traders expect strong resistance at $3,600

Ethereum options data shows pro traders expect strong resistance at $3,600


Ether (ETH) price has bounced 13% from its Jan. 9 low at $2,950, but it seems premature to call the move a cycle bottom. Instead, the larger bearish movement has prevailed and although it looks primarily correlated to Bitcoin (BTC) price, regulatory concerns and a tighter United States Federal Reserve policy have also been blamed for the movement.

BTC and Ether have been under pressure since regulators focused their attention on stablecoins. On Nov. 1, the U.S. Treasury Department urged Congress to ensure that stablecoin issuers are regulated similarly to U.S. banks.

ETH/USD price at FTX. Source: TradingView

Trending: BREAKING BOMBSHELL: Video From Speaker’s Lobby Shows Ashli Babbitt Tried To STOP Attack On Capitol Before She Was Shot To Death

Currently, the descending channel formation initiated in mid-November shows resistance at $3,850 resistance. The average network transaction fees have also risen back above $50 and the longer that the

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend