Bull RISK $ 1850, as the open interest eth decreased to less than $ 20 billion

The price of Ethereum closed the trading of less than $ 2000 on March 22, decreased by 5 % of its highest levels in the time frame, which is a record number 24 hours ago 24 hours ago. Lack of interest among short -term traders puts the price of ETH as a risk of another decline of about $ 1,850.

ETHEREUM (ETH) failed to obtain $ 2000 support despite Trump’s speech

ETHEREUM (ETH) price showed a promising price procedure earlier this week, but the latest price procedures indicate that optimism may have already been launched in less than 24 hours.

The ETHEREUM price increased by 10 % at the beginning of the week, increasing from $ 1760, to $ 2065 on the positive winds for successful publication to update Hudi.

Trump’s appearance at the Blockwork’s digital assets topped the market momentum on Thursday, which prompted the price of ETH to the top of $ 2,067 on Friday, according to Coinmarketcap Data.

Modern market trends show that the majority of ETH traders have failed to gain gains for up to 24 hours.

After Trump’s speech, Ethereum opened the trading on Friday over $ 2000 for the first time in nearly two weeks, dating back to March 9.

However, ETH Bulls failed to build on the bounce, as the ETH price quickly decreased to less than $ 2000 and closed today about 1965 dollars.

However, as shown in the above chart, the constant decrease in ETH trading sizes indicate that the bears can struggle to pay significant declining moves in the upcoming trading session.

ETHEREUM Derivatives Analysis: The open interest decreases to less than 20 billion dollars, but multiple upward signals remain

The ethereum derivative market reflects mixed feelings, with an open interest at 19.94 billion dollars, barely higher than a threshold of $ 20 billion, despite the decrease in trading volume by 26.7 % to 22.80 billion dollars.

The open use of options also decreased by 5.45 % to 5.88 billion dollars, indicating that the founding speculators also reduce their exposure to ether.

Moreover, on the contrary, liquidation data also provides basic visions in the last negative tilt in Mark’s morale. Over the past 24 hours, the total Rekt sites amounted to $ 24.63 million, with $ 17.18 million in the long qualifiers and $ 7.45 million in short qualifiers, indicating that the upscale traders have been excessive before the price correction recently.

In addition, $ 3.47 million has been eliminated in the past four hours, which also reflects the market weakness in sudden price fluctuations.

ETHEREUM price expectations: Failure to keep $ 1850 exposed to ETH for more negative risks

The ETH price is traded just above 1900 dollars at the time of the press. However, ETHEREM’s price expectations indicate derivative trends to be careful if ETH focuses near $ 2000.

the Coinglass The derivative scheme shows the long/short/USDT ratios on Binance (3.42) and OKX (3.44) showing the oud location determination of the merchants, as the best traders in Binance maintains a long/short/short/short account. This indicates that merchants may enter new climbing sites after the stage of achieving the last profits that followed after Trump’s speech on Thursday.

The prolonged lack of the directional momentum of speculative traders can deter the current owners to close ETH sites in search of more volatile assets. In this scenario, additional declines in the market participation may push an open interest to less than $ 20 billion, which weakens the main support levels about $ 1850, and exposes ETH to possible negative risks.

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Ibrahim

The encryption analyst that covers the derivative markets, macro trends, technical analysis and Defi. His business is characterized by in -depth market visions, price expectations and institutional research on digital assets.

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