New analysis shows that Ethereum’s price remains stable over the past five months despite the overall market downturn, indicating a potential trend reversal.
Current Ethereum Price Levels
According to a new analysis by CryptoQuant, Ethereum’s realized price has held steady even as the market experienced a significant downturn over the past five months. This price level has historically acted as strong support, and when Ethereum’s performance surpasses it, it has often signaled the start of altcoin bull markets.
Derivatives Market Data
Sentiment in Ethereum’s derivatives market remains mixed. There is a decrease in open interest, but options trading volume has increased.
Role of Large Holders
Large holders dominate 89% of Ethereum supply, creating potential volatility if significant selling occurs in the market.
Traders are keenly observing Ethereum's price levels for any signs of an upward shift, as the current stability may indicate a potential market reversal.
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