Ethereum Taps $2.2K as Traders Brace for a Potential Trend Change
Ether recovered to $2,200, supported by positive derivatives volume and rising Coinbase premium, signaling potential trend change.Summary
Ether (ETH) confirmed an uptrend after recovering 25% to $2,200 from lows below $1,800, with on-chain data suggesting returning demand. Key metrics indicate a shift in market sentiment: Ether's net taker volume flipped positive after two months of negative territory, suggesting sellers are losing control and potentially preceding short covering rallies. Furthermore, the Coinbase Premium Index turned positive, indicating renewed demand from US investors, and spot ETH ETFs saw significant inflows ($169.4 million), pointing to institutional interest recovery. Analysts caution that ETH must hold support around $1,750 to maintain the bullish control, with upside targets set between $2,500 and $3,400, depending on successful retests of key levels like $2,100.
(Source：Cointelegraph)