Ethereum

Future

Resistance

Delta

You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereums-market-dynamics-and-future-outlook" rel="noopener noreferrer nofollow">Ethereum’s Market Dynamics and Future Outlook</a> 
<a href="https://en.bitcoinhaber.net/vision-for-ethereums-layer-2-solutions-by-vitalik-buterin" rel="noopener noreferrer nofollow">Ethereum</a>‘s price has seen a 12% decline over the past week, failing to rebound to the $2310 support level. Market participants in derivative markets show a lack of enthusiasm for a short-term ETH rally. The sentiment mirrors a decrease in the Coinbase Premium Gap and a drop in optimism among U.S.-based ETH investors.
Investors who consider derivative markets alongside price movements can gain valuable insights. Ethereum’s price fell below the critical $2400 support level, a significant drop from the bullish efforts a month prior. The dominance of a bearish trend was evident.
Ethereum Funding Rates shifted from a bullish surge at the end of December and the start of January to a more skeptical stance, with a significant drop after a peak on January 3. The positive sentiment indicated a willingness to take long positions but should not be taken as a definitive sign of a strong upward trend.
Bulls looking to enter long trades saw funding rates increase with the price rise from $2200 to $2700. However, after a rejection at the $2700 level on January 12, funding rates dropped again. Open interest has also been declining since January 2, reflecting a bearish expectation despite reaching the $2700 level mid-January.
Hyblock’s heatmap and liquidation levels suggest a short-term trend for ETH, with the Cumulative Liquidity Levels Delta showing a significant negative bias, indicating that short liquidations outweigh longs. A potential rise in ETH price could trigger more liquidations than a continued decline. Resistance is seen near the $2490 level with a possible jump, while a buying wall exists at $2300 and a selling wall just below $2500.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereums-market-dynamics-and-future-outlook" rel="noopener noreferrer nofollow">Ethereum’s Market Dynamics and Future Outlook</a></h5>

Ethereum’s Market Dynamics and Future Outlook

BH NEWS

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