Analysis of Bitcoin Options Expiry Impact
- Options Expiry Overview: Approximately 26,700 Bitcoin options contracts worth around $1.9 billion are set to expire this week, a smaller event similar to last week, thus unlikely to impact spot markets significantly.
- Market Sentiment Shift: The put/call ratio for Bitcoin options stands at 0.71, indicating more long positions than shorts, with max pain at $69,000, which is below current spot prices, suggesting many contracts may expire out of the money.
- Open Interest Analysis: Total open interest for Bitcoin options across exchanges has fallen back to $34 billion, with the highest concentration at the $80,000 strike price, reflecting a dominant bullish sentiment and optimism regarding price increases.
- Ethereum Options Expiry: In addition to Bitcoin options, around 151,500 Ethereum contracts are also expiring this week, with a notional value of $332 million and a put/call ratio of 0.77, indicating signs of recovery in the Ethereum derivatives market despite ongoing macro uncertainties.
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Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH). As of , Ethereum (ETH) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 3 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ethereum (ETH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1713.062 | 1886.651 | 2068.322 | 2241.911 | 2423.582 | 2597.171 | 2778.842 |
| Fibonacci | 1886.651 | 2022.36 | 2106.202 | 2241.911 | 2377.62 | 2461.462 | 2597.171 |
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