$ETH 2249. Open interest in futures rose 2.77% to $5.4 billion, even though the price moved just ten dollars in 24 hours.
What really matters isn't the round number 2250, but whether 2210 holds.
On 11-05, the price plunged from 2424 to 2206. The next day, it hit 2210 again at its low. It stopped there both times over two days. The price returned to where it started, but leverage is even higher than before the crash, with both longs and shorts adding positions.
Nobody has left.
Over the same period, open interest in $SOL rose 2%, while $HYPE fell 1%. Money is only moving into the large-cap side.
Only if it holds above 2260 can we talk about a move up to 2278. If it falls below 2210, the next level to watch is 2174.
It hasn't moved yet.
I'm watching to see when these positions get liquidated. Nobody knows which way it will go. Keep an eye on the 2210 closing level intraday; don't jump in early.
Do you still have ETH? At this level, would you add or reduce your position?
What really matters isn't the round number 2250, but whether 2210 holds.
On 11-05, the price plunged from 2424 to 2206. The next day, it hit 2210 again at its low. It stopped there both times over two days. The price returned to where it started, but leverage is even higher than before the crash, with both longs and shorts adding positions.
Nobody has left.
Over the same period, open interest in $SOL rose 2%, while $HYPE fell 1%. Money is only moving into the large-cap side.
Only if it holds above 2260 can we talk about a move up to 2278. If it falls below 2210, the next level to watch is 2174.
It hasn't moved yet.
I'm watching to see when these positions get liquidated. Nobody knows which way it will go. Keep an eye on the 2210 closing level intraday; don't jump in early.
Do you still have ETH? At this level, would you add or reduce your position?
