Ethereum risks ‘bull trap’ after 25% ETH price rebound

June 23, 2022 Jeannine Cruz

Ether price paints a “rising wedge” The first among these indicators is a “rising wedge,” a traditional bearish turnaround setup that forms after the rate trends up inside a range specified by two ascending however assembling trendlines. Interestingly, these Ether options are significant puts around the present cost levels, with a concentration around the $1,000 strike, according to information from Coinglass.Ether choices open interest by strike rate. Source: CoinglassThe June 24 expiration might possibly affect Ethers rate action, mostly because it trades only 10% above the preferred strike price of $1,000.
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Ether price paints a “increasing wedge” The first among these signs is a “rising wedge,” a classic bearish reversal setup that forms after the price patterns up inside a range defined by 2 ascending but assembling trendlines. Interestingly, these Ether alternatives are major puts around the existing price levels, with a concentration around the $1,000 strike, according to information from Coinglass.Ether choices open interest by strike price. Source: CoinglassThe June 24 expiration might potentially affect Ethers price action, mainly since it trades just 10% above the preferred strike price of $1,000.

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Jeannine Cruz

Jeannine Cruz– Earnings I am known as Jeannine Cruz, I am a writer and an industrialist by profession. My age is 32 years. My aim is to gather the attention of the targeted audience without being boring and unexciting. I like to utilize the free time in writing my views and thoughts for my book lovers or readers. My most preferred articles are usually about finance and business; however, I have written various topics in my articles. I do not have a specific genre. I get very creative when I have to express myself, I often sing, write or draw to portray my feelings. When it comes to my free time or you can say ‘ME-TIME’, I love to play with my cat, sleep an extra hour, or play my favorite video games.