Ethereum price metrics prove pro traders
Bitcoin miners rake in $57 million
Crypto Signals by Forex FxPremiere Group As Ether (ETH) made a $2,800 all-time on April 29, so did its futures open interest. The $8.5 billion figure marks a 52% monthly increase and shows robust trading activity behind the meteoric price rise.
TIME Magazine to invest in Bitcoin
Some analysts might dismiss Ether derivatives, considering CME’s future has $355 million in open interest compared to Bitcoin’s $2.4 billion. However, Ether contracts were only launched a couple of months ago. Both FTX and Deribit require 100% full-KYC for their clients, and these markets hold a combined $2 billion in ETH open interest.
Ethereum price metrics prove pro traders
Bitcoin Settles Above Key Support, Why BTC Could Revisit $60K
Bitcoin price started a fresh increase above the $55,000 resistance zone against the US Dollar. BTC tested $58,500 and it remains elevated for a move towards the $60,000 zone.
Bitcoin is showing positive signs and it recently tested the $58,500 resistance zone.
The price is now trading well above $55,000 and the 100 simple moving average (4-hours).
There is a key bullish trend line forming with support near $55,400 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair could correct losses, but it is likely to start a steady increase towards the $60,000 level.
Bitcoin Price Gains Traction
This past week, bitcoin price remained stable above the $52,500 support zone against the US Dollar. The BTC/USD pair started a steady increase and it broke a couple of important hurdles near $55,000.
The price even broke the $56,500 resistance and extended its rise. There was a spike above the $58,000 level, but the price struggled near the $58,500 zone. A high is formed near $58,494 and the price is now correcting lower.
It traded below the $57,500 level. There was a break below the 23.6% Fib retracement level of the upward move from the $52,489 swing low to $58,494 high. On the downside, there is a major support forming near the $55,500 zone.
There is also a key bullish trend line forming with support near $55,400 on the 4-hours chart of the BTC/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $52,489 swing low to $58,494 high.
Ethereum price metrics prove pro traders
Ethereum price metrics prove pro traders
1 – XRP Price Prediction if It Wins Lawsuit
2 – XRP Climbs 11% In a Green Day
3 – XRP Climbs 25% In a Green Day
SEC Crypto Exchange Regulation
About The Author: Crypto Signals
Crypto Signals by FxPremiere Group look no further for the best signals online look no further than FxPremiere
More posts by Crypto Signals