Ethereum to 2K soon? 3 Key Ethereum Price Metrics Confirm It

in HODLlast month (edited)

cover.PNG

Hello HODLers!

I just read the Cointelegraph article "3 key Ethereum price metrics show pro traders are aiming for $2K ETH" and I want to share those info with you!

As reported by Cointelegraph, multiple data points show investors are strongly bullish on Ether price even after its recent 36% correction below $1,300.

1st bullish metric:

The launch of CME ETH futures + Grayscale Investments' ETH trust reaching $6.3 billion assets under management + the fact that decentralized finance phenomenon is keeping growing, as there is currently more than $21 billion worth of Ether locked in DeFi.

2nd bullish metric:

The futures premium held very healthy levels.

By measuring the expense gap between futures and the regular spot market, we may estimate the level of bullishness in the market. The three-month futures usually trade with a 10% or higher premium versus regular spot exchanges. Whenever this indicator fades or turns negative, this is an alarming red flag. Nevertheless, the futures premium has kept above 16% during the entire correction down to $1,300. This data shows that professional traders are still bullish on Ether.

3rd bullish metric:

The options skew remained neutral-to-bullish.

When analyzing options, the 25% delta skew is the single-most relevant gauge. This indicator compares similar call (buy) and put (sell) options side-by-side. It would turn negative when the put options premium is higher than similar-risk call options. Over the past month, there hasn't been a single incident of a sustainable positive delta skew. Therefore, there is no evidence that options traders demanded more significant premiums for downside protection.

Marcel Pechman's Cointelegraph article illustrates these metrics in depth. I summarized those info for you, but I share the link to learn more. Of course, none of this is financial advice. Have a nice HODLers day! To the Moon!

More info here: https://cointelegraph.com/news/3-key-ethereum-price-metrics-show-pro-traders-are-aiming-for-2k-eth?utm_source=Telegram&utm_medium=social

Earn crypto engaging in a crypto-centric social network:
Join Torum, the first social media platform specifically built for cryptocurrency communities around the world, and earn XTM (XTorum) rewards for your daily and weekly engagement. XTM is the ERC-20 utility token of Torum ecosystem and will be listed on exchanges in May or June 2021. Read Torum Whitepaper to figure out XTM token utilities and the potential of the platform: https://whitepaper.s3.us-east-2.amazonaws.com/torum-whitepaper-V2.0-EN.pdf. Sign up using my referral link and earn 75 XTM airdrop after email and phone verification: https://www.torum.com/signup?referral_code=makeitreal

Sort:  

Congratulations @makeitreal95! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

You received more than 3750 upvotes.
Your next target is to reach 4000 upvotes.

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

Check out the last post from @hivebuzz:

Feedback from the March 1st Hive Power Up Day
Hive Tour Update - Financial stages