Bulls have the edge, but price has yet to break above a key moving average
ETH long/short ratio at 1.85—why am I not rushing to turn bullish?
ETH is currently trading sideways around 2,490. After rebounding from around 2,405 earlier today, the price has gradually stabilized.
But there are a few details worth noting:
🔍 First, the long/short ratio is 1.85.
Long accounts have the edge, but the ratio only reflects how accounts are distributed; it doesn’t directly tell us what major players will do next.
🔍 Second, OI is still near the lows.
The price has rebounded, but open interest hasn’t shown any particularly clear or sustained expansion, suggesting this rebound still needs further confirmation.
🔍 Third, Delta hasn’t changed much.
For now, we haven’t seen sustained growth in aggressive buying, so there isn’t yet enough evidence to chase the rally.
Here are three levels to watch next:
📌 Around 2,500: Watch to see whether the price can hold above this level.
📌 Around 2,516: The area where the 15-minute EMA169 sits—a resistance level worth watching.
📌 Around 2,480: Watch to see whether this level holds during a short-term pullback.
If ETH breaks above 2,516 on strong volume, with OI and Delta strengthening in tandem, the rebound will be more convincing.
If the price spikes and then pulls back, while Delta turns negative, beware of a failed breakout.
What’s truly worth trading isn’t the direction the long/short ratio points to, but whether price action and capital flows are telling the same story.
#ETH #Ethereum #TradingLogic #FuturesAnalysis$ETH
ETH long/short ratio at 1.85—why am I not rushing to turn bullish?
ETH is currently trading sideways around 2,490. After rebounding from around 2,405 earlier today, the price has gradually stabilized.
But there are a few details worth noting:
🔍 First, the long/short ratio is 1.85.
Long accounts have the edge, but the ratio only reflects how accounts are distributed; it doesn’t directly tell us what major players will do next.
🔍 Second, OI is still near the lows.
The price has rebounded, but open interest hasn’t shown any particularly clear or sustained expansion, suggesting this rebound still needs further confirmation.
🔍 Third, Delta hasn’t changed much.
For now, we haven’t seen sustained growth in aggressive buying, so there isn’t yet enough evidence to chase the rally.
Here are three levels to watch next:
📌 Around 2,500: Watch to see whether the price can hold above this level.
📌 Around 2,516: The area where the 15-minute EMA169 sits—a resistance level worth watching.
📌 Around 2,480: Watch to see whether this level holds during a short-term pullback.
If ETH breaks above 2,516 on strong volume, with OI and Delta strengthening in tandem, the rebound will be more convincing.
If the price spikes and then pulls back, while Delta turns negative, beware of a failed breakout.
What’s truly worth trading isn’t the direction the long/short ratio points to, but whether price action and capital flows are telling the same story.
#ETH #Ethereum #TradingLogic #FuturesAnalysis$ETH