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3 key Ethereum price metrics show pro traders are aiming for $2K ETH

Published 03/03/2021, 04:00 PM
Updated 03/03/2021, 05:40 PM
3 key Ethereum price metrics show pro traders are aiming for $2K ETH

On Feb. 20, Ether (ETH) price rallied to a new high at $2,015 and this caused multiple indicators to display signs of excessive optimism. While the excitement could be easily justified by Ether's year-to-date 176% gain, these warning signs should not be ignored.

On of the primary driving factors of the current bullish sentiment is the launch of CME ETH futures and Grayscale Investments ETH Trust reaching $6.3 billion assets under management. The DeFi phenomenon also continues as there is currently more than $21 billion worth of Ether locked in DeFi.

Crypto Fear & Greed Index. Source: alternative.me
Ether futures contracts aggregate liquidations. Source: Bybt.com
OKEx 3-month ETH futures basis. Source: Skew.com
ETH options 25% delta skew. Source: laevitas.ch

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