Ethereums Merge and Options and whatever else is fueling its rally - BitcoinEthereumNews.com
ETH/USDT | Source: Tradingview The 2022 high zone also roughly coincides with the 200 DMA. Ergo, a breakout above both these levels can signal a major confirmation of a trend reversal and can pave the way for a major recovery in Ethereum. However, it must be noted that the RSI is quite close to overbought levels so, an immediate minor correction may take place before further recovery. Two major regions of supply lie ahead – $4000 and the एथलीट of $4800 – and both these will prove to be a tough nuts to crack. Derivatives looking shiny However, a look at derivatives data, specifically Options data, shows there is a lot of optimism among market participants for this coin. ETH Option flows data revealed that put contract sellers have been the most active followed by call buyers. Now, both these set of participants in the Options market hold bullish positions – suggesting a majority see ETH going up in the near future. ETH Option Flows | Source: Skew Also, ahead of the 1 April option expiry, put OI is significantly more than calls – this may seem counterintuitive – but this data shows put option sellers are more dominant in the current cycle. Especially since put option sellers