The price of Ethereum, the second largest cryptocurrency, has been trading within a set range, unable to surpass $1920 but remaining above $1867. While many believe the trend will continue to consolidate, there is also a possibility of a bullish reversal. The top addresses holding Ethereum have seen a significant increase in supply and profits, leading investors to have faith in an upcoming rally and keeping their ETH out of exchanges. Additionally, HSBC, one of the largest banks in Hong Kong, is now offering Bitcoin and Ethereum ETFs to their customers, indicating a growing adoption and attention towards cryptocurrencies. However, the price of Ethereum remains stuck at $1900. This Friday, a significant amount of Bitcoin and Ethereum options are set to expire on the Debrit exchange, and with dealers experiencing negative gamma, even a small move away from $30,000 could trigger a large price swing. Therefore, Ethereum bulls need to maintain stability and keep the price above $1900 to potentially reach $2000 in the near future.
Continue reading on Coinpedia.org
By
By
By
By
By
By