Ethereum Shows Strength Above $2,000
Currently, Ethereum is holding steady above the $2,000 level, indicating potential for continued positive trends. Kaiko’s data from November 12 reveals a shift in the ETH-BTC ratio and an increase in trading volume. Additionally, funding rates on crypto derivative platforms have turned positive, suggesting growing demand for Ethereum.
Stable Trading and Support Levels
As of November 13, Ethereum is trading around $2,090 with support at $2,000 and resistance at $2,100. Despite a recent decrease in trading volume following a rally on November 9, the overall uptrend remains intact. The failure of BTC bulls to reverse losses also suggests that ETH has the advantage over Bitcoin.
Bullish Signals for Ethereum
Following a surge in prices, Kaiko’s data shows positive funding rates for the ETHUSDT pair, indicating increasing demand in the crypto derivatives market. This shift suggests that more traders are betting on a rise in ETH prices in the near future.
Hot Take: Ethereum Poised for Further Gains
Ethereum’s stability above $2,000 and bullish indicators like positive funding rates signal potential for further price gains in the cryptocurrency market.
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