Ethereum’s Price Trends Indicates Strong Resilience

Krutika Adani

Price Holds Strong at $3600

Despite all the selling pressure, Ethereum has successfully held its price in the $3500 - $3600 range.

Delay in Ethereum ETFs Causing Bearishness

The prime cause of bearishness is the SEC's delay in approving and listing individual Ethereum ETF applications.

On-Chain Factors

Ethereum's daily on-chain transactions have declined from $1.32 million to $1.16 million in the last three months.

Whales Selling ETH

Three days ago, an Ethereum whale was witnessed selling $35 million worth of ETH.

$700 Million Options Expire Today

More than $693 million worth of Ethereum options and $1.2 billion worth of Bitcoin options expire today, which may increase price volatility in the near term.