Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. Recently, on 9th May, 2021 ETH reached its ATH with a price value of $4375. This ATH validation did not satisfy the investors as the price slope-down to 56% the following week. Moreover, the market recorded the ETH’s value declining to $1880 and to the least of $1728. To be added, Ethereum registered a recovery of $2000 but unfortunately the industry remains bearish.
Further, all crypto investors, crypto analysts expecting Ethereum to attain its ATH validation as of June 25th. The second Quarterly Ethereum Options expiry in another three days brings an urge among the crypto investors and users.
ETH’s Live Market Status
According to CoinMarketCap, the current price value of Ethereum is $1,740.07 with a 24-hour trading volume of $31,951,795,09. ETH ranks 2nd position in the market. Additionally, Ethereum is down 12.95% in the last 24 hours. This indicates that the Ethereum market still remains in a bearish line.
As per the Global open interest on ETH the market expects 645K+ ETH options will undergo expiry on June 25th. The overall worth of these ETH options is over $1.5 billion. And the estimation for all ETH expiry as of June is valued at $3.6 billion. Moreover, it is significant that the 2nd Quarterly Expiry is 33% larger than the 1st Quarterly Expiry which took place on March 26th, 2021.
Ethereum to be Bull or Bear
However, the momentum and value signals of Ethereum still results in a bearish signal in the market. On the other hand, crypto analyst conveys there is a huge amount of call options at $2,200 with higher strikes. This resembles the current ETH price must increase to $2,200 when the expiry occurs. Since the crypto market is unpredictable, several changes in the price can be expected.
Therefore, all crypto investors and users need to keep a keen eye on this particular quarterly expiry. The expiry event is capable of bringing a change in the values. So as of now, ETH market structure remains in question from a bullish/bearish perspective. Hence, this 2nd quarterly expiry must be efficient to push Ethereum forward in the market.
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