Ethereum Faces Delays in Reaching $4K Amid Market Challenges
TL;DR Summary
Ethereum has been trading within a horizontal channel between $3638 and $3962, indicating a balance between buying and selling pressures. Key momentum indicators like RSI and MFI are flat, suggesting no strong trend. Despite this, futures market activity has increased, with a 42% rise in open interest since May 20, and a positive funding rate indicating more long positions. This suggests that a move to $4K may take time as the market consolidates.
Topics:business#cryptocurrency#ethereum#futures-market#market-volatility#price-prediction#technical-analysis
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