š„ Altcoins surpass Bitcoin in open interest for the first time since December 2024 ā Altcoin OI surpassing BTC for the first time since Dec 2024 signals a major risk-on shift in derivatives positioning, directly impacting price action across majors.
Bro, thereās something really different happening in the market today. For the first time since December 2024, altcoin open interest has moved above Bitcoin. This is not a small signalāit means the risk-on mood is coming back into derivatives, and its direct impact will be visible in the price action of majors like Ethereum. Now letās talk about ETH, which is currently at $2,481, up 3.8% in 24 hours. If you look at the chart, the picture is clear: pivot around $2,482.7, and the price is right there. My view is that $2,487.28 resistance is the first gateāif that breaks, then the next target at $2,546.66 comes into play. Below, $2,425.62 is support, and if that also fails, then the move could extend down to $2,356.41. RSI at 53 is neutral, meaning itās not overbought yet, and MACDās bullish cross is giving us some confidence. But volume is only 0.6x the average right nowāthatās the biggest catch. Without volume, this rally wonāt go much further. The EMA20/50/200 structure is bullish, so I think if thereās a pullback, buyers will show up in the support zone. The key thing to watch is whether it closes above $2,487.28āthat will decide whether this altcoin OI signal really converts into price action or turns out to be another fake-out. So tell me, do you think ETH will reach $2,546 this week, or will it test support at $2,425? Drop your view in the comments!
#Trading #Binance #Bitcoin #Ethereum #Crypto
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Disclaimer: My personal analysis, not financial advice. DYOR.
Bro, thereās something really different happening in the market today. For the first time since December 2024, altcoin open interest has moved above Bitcoin. This is not a small signalāit means the risk-on mood is coming back into derivatives, and its direct impact will be visible in the price action of majors like Ethereum. Now letās talk about ETH, which is currently at $2,481, up 3.8% in 24 hours. If you look at the chart, the picture is clear: pivot around $2,482.7, and the price is right there. My view is that $2,487.28 resistance is the first gateāif that breaks, then the next target at $2,546.66 comes into play. Below, $2,425.62 is support, and if that also fails, then the move could extend down to $2,356.41. RSI at 53 is neutral, meaning itās not overbought yet, and MACDās bullish cross is giving us some confidence. But volume is only 0.6x the average right nowāthatās the biggest catch. Without volume, this rally wonāt go much further. The EMA20/50/200 structure is bullish, so I think if thereās a pullback, buyers will show up in the support zone. The key thing to watch is whether it closes above $2,487.28āthat will decide whether this altcoin OI signal really converts into price action or turns out to be another fake-out. So tell me, do you think ETH will reach $2,546 this week, or will it test support at $2,425? Drop your view in the comments!
#Trading #Binance #Bitcoin #Ethereum #Crypto
--
Disclaimer: My personal analysis, not financial advice. DYOR.
