Ether Lee’s ether (ETH) showed strength during the weekend, and the investor expressed hope for the rest of incomplete price performance to predict the fall of the entire market.
In a mute trading session due to US vacation, Ether is 7% higher than the $ 2,850 Monday session, which is better than the remaining encryption market. Then most of the profits dropped and the wider market fell to $ 2,730, and Bitcoin (BTC) fell from $ 97,000 to $ 95,500. Nevertheless, ETH has maintained 2% advancement in the last 24 hours, and the CoINDESK Index and BTC have been about 2% lower.
The traders quickly pointed out the past cases where a simple ETH rally predicted a wide range of weaknesses of encryption prices in the past, such as the end of January and early February. In three days, Ether’s 10% rally ended with an ugly surrender of the trade war, and the BTC decreased by 13% and ETH ended almost $ 2,000 at a low dose weekend.
ETHER’s strengths occurred as Fiascos, a memo of Solana’s Argentina Libra and BNB chain -based broccoli. He weighed the tokens of the competitive layer -1 network inspired by the former Binance CEO CZ, which revealed his dog’s name.
Aran Hawker, CEO of Trading Automation Platform CoinPanel, said, “ETH’s recent price behavior is not good.” Some traders may have rotated again from SOL to ETH, but there is no clear trend or structural change. The performance recognized as the next major market movement can be erased. “
Joel Kruger, a market strategist of LMAX Group, said he was more optimistic and priced that Etter could be a sign of finishing many years of slides for Bitcoin.
Kruger said in a Monday market notes that “after 2021, there is evidence that it blocks Elscoin on the main floor of Bitcoin.” “We think it is important to watch the ETHBTC ratio closely to the monthly high of the Ethbtc ratio.
According to CoingLass data, Crypto Traders’ interest in betting on ETH for ETH compared to BTC. The public interest on ETH futures has risen from 12%to 9.2 million contracts (about $ 2.6 billion) on all exchanges led by all exchanges combined on all exchanges in all exchanges for the last 24 hours and BTC Futures Open Interest has only increased 1%.