Die Derivate von Ethereum sind optimistisch, auch wenn der ETH-Preis eine wichtige Unterstützung darstellt

Äther (ETH) lost the $1,750 support on March 22, which marked a 7% loss and $230 million worth of futures contract liquidations. It has been holding near the strong support at $1,670, although investors are unwilling to open new long positions despite the price being 11% below the previous week’s high.

Ether price on Coinbase, US Dollar. Quelle: TradingView

Binance Chain recently surpassed Ethereum’s transaction volume, and this startling growth in unique active wallets certainly played a part in tampering with investors’ Optimismus. The nonfungible token (NFT) frenzy has been driving new projects away from the Ethereum network’s high fees.

To further complicate things, multiple decentralized finance (DeFi) protocols are seeking interoperable alternatives, und PancakeSwap, Binance Smart Chain’s leading application, was able to amass $4.46 Milliarden im Gesamtwert gesperrt (TVL).

inzwischen, Ethereum developers are trying to remedy the Berlin update situation, aiming to reduce transaction costs. The upgrade is expected to go live on April 14, but several industry leaders, including Enjin CEO Maxim Blagov, do not expect a significant impact on the cost per transaction.

Let’s take a look at a few derivatives indicators to determine why investorsexpectations for Ether have dampened lately.

The futures premium is still bullish

Basisis frequently referred to as the futures premium, and it measures the gap between longer-term futures contracts and the current spot market levels.

EIN 10% zu 20% annualisierte Prämie (Basis) wird als neutral interpretiert, bekannt als “contango.This price difference reflects the arbitrage opportunity cost, usually stablecoin staking rates.

Andererseits, whenever this indicator fades or turns negative, it indicates that the market is quickly turning bearish.

OKEx 3-month Ether futures basis. Quelle: Schräg

Die obige Grafik zeigt, dass der Indikator kürzlich seinen Höchststand erreicht hat 32% Im März 20, indicating extreme leverage being used by buyers. As Ether’s price dropped, the futures basis reverted to a slightly bullish 23% Niveau.

Unter Berücksichtigung der 10% price drop since the $1,850 Höhepunkt im März 20, the futures premium remaining healthy is a bullish indicator.

The options skew has been neutral since Feb. 5

Although futures markets have been bullish over the past two weeks, options traders are uncomfortable offering downside protection. Call-Optionen ermöglichen es dem Käufer, Ether nach Ablauf des Vertrags zu einem festen Preis zu erwerben. Andererseits, Put-Optionen bieten Käufern eine Versicherung und schützen vor Preissenkungen.

Whenever market makers and professional traders are leaning bearish, they demand a higher premium on put (verkaufen) Optionen. This trend causes a positive 25% Delta-Skew-Anzeige.

Deribit BTC options 25% Delta-Versatz. Quelle: VOLATILITÄT

A skew indicator between -10 und +10 gilt als neutral, which has been the case since Feb. 5. This is evidence of a balanced risk assessment from whales and market makers between downside and upside risk.

So, there is no evidence that options traders are bullish, in contrast with ETH futures markets.

This data is not worrisome, considering that Ether has gained 74% im 2021. After strong rallies, it is natural for traders to seek protection from eventual price adjustments.

Das $1,670 support seems to be holding, but it would also not be surprising if Ether tested lower levels before rebounding to retake the critical $1,800 psychologische Barriere.

Die hier geäußerten Ansichten und Meinungen sind ausschließlich die der Autor und spiegeln nicht unbedingt die Ansichten von Cointelegraph wider. Jeder Investitions- und Handelsschritt ist mit Risiken verbunden. Sie sollten Ihre eigenen Untersuchungen durchführen, wenn Sie eine Entscheidung treffen.

Blockieren wir Anzeigen! (Warum?)

Quelle: Cointelegraph

Wird geladen...