Institutional Flows and Open Interest Dey Spark Ethereum Reversal
Ethereum just make one bullish engulfing candle around $4,200, say say trend fit change. Dis technical pattern, confirm by how open interest dey rise — now be about $8.3 billion for CME — and how institutions dey gather plenty, show say confidence dey grow for Ether as main investment asset. Institutions don increase their holdings through custody inflows and derivatives block trades, make market deep like that. Traders suppose wait confirm say volume and open interest go continue grow, use stop-loss orders under the engulfing low, and consider big picture and regulation factors. If ETH go dominate BTC more, e fit still support capital rotation wey Ethereum dey lead. To watch on-chain flows and institutional derivatives na the key to sabi wetin market go do next.
Bullish
Ethereum price wey reach $4,200 get bullish engulfing, plus open interest dey rise and institution dem dey accumulate, e mean say buying pressure don increase again. Historically, similar pattern for mid-2023 don show say traders and asset managers wey sabi market bin dey increase their exposure before big rally. The CME open interest peak to $8.3 billion na like the buildup before the ETH price jump for Q4 2021. For short term, if volume and open interest still dey grow, e fit make price test resistance near $4,500. Long term, institution dem wey dey adopt Ethereum dey make market fundamentals strong, e fit reduce market volatility and support say price go rise reach new highs. Traders make dem still watch macroeconomic wahala and rules wey fit block their gains.