Ethereum price resistance at $1,750 could reflect traders’ anxiety over the Shanghai upgrade

Mar 23, 2023 | wjb news
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After a higher-than-expected frictional resistance of $1725, the price of Ether (ETH) fell 9.8% between Feb. 19 and Feb. 25. Even so, the adjustment could not shake off the nearly six-week upward trend and did not cause the etheric derivatives index to become bearish.

The price extensibility of ethernet can partly explain the unsuccessful operation of some of its blockchain intelligent contract blockchain technology competitors. For example, Solana (SOL) suffered a nearly 20-hour shutdown on Feb. 25, which was resolved in time after a network upgrade cooperated by the certifier. Internet restart also includes the elimination of some of the latest expansion slots, although Solana developers stated that "there is no certainty that customer transactions have been rolled back or affected."

NEM (XEM) experienced a chain break of nearly 15 hours on February 27th, causing several trading centers to suspend savings and withdrawals, and real estate developers pledged to announce upgrades to avoid further misconduct. Inexplicably, the latest post on Twitter's official NEM account, in addition to a Merry Christmas greeting, is a photo of "Please apply" posted in July.

The regulatory environment for digital money remains dim, and the new victims are global payment resolution companies Visa and MasterCard. According to the Associated Press on February 28, such companies will delay running a new strategic partnership with data encryption companies until market conditions improve and a more transparent color management and control architecture is created.

A more efficient message is that on February 28th, in order to prepare for the Shanghai update in advance, the etheric Sepolia Testnet achieved a successful hard bifurcation. The anticipated mid-sized upgrade, scheduled to be announced in March, should eventually allow verifiers to remove their benchmarking from the portal chain. Developers are now preparing for the Goerli test network to enter a similar link.

Let's take a look at etheric derivatives to see if the $1560 support line retested on Feb. 25 has seriously affected the mentality of login password investors.

ETH futures trading shows strong demand for financial leverage

In the market environment of education, the two-month futures annualized interest rate equity premium needs to be traded between 5% and 10% to cover costs and associated risks. However, if the buying and selling price of the contract is lower than the traditional spot market, it shows that traders lack self-confidence, which is called bearish index value.

The chart shows that derivatives traders are becoming slightly bullish as the etheric futures premium (average) approaches the 5% entry threshold on February 26th. More crucially, although Ether prices fell by nearly 10% between Feb. 19 and Feb. 25, it is still malleable.

The strong demand for double-headed (double-headed) financial leverage does not necessarily translate into expectations of proactive price behavior. Therefore, traders should analyze Ether's options market to understand how dolphins and market makers price the probability of future price changes.

The risk index of stock index futures shows extensibility, although the price has fallen by 10%.

When markets and hedging arbitrage institutions charge too much for upside or downside maintenance, a 25% increase error is a significant sign.

In a bear market, investors in stock index futures feel that prices are more likely to fall, causing the tilt index to rise above 10%. On the other hand, bullish industries tend to lower their skewness to less than-10%, which means there is less demand for put options.

The delta index fell to a bearish level of 9% on Feb. 27, showing pressure from technically professional traders. However, as the index rose to 5, the situation improved significantly on February 28th, indicating similar upside and downside stock investment risks.

For equity fundamental investment analysts, it makes sense to prevent bullish trading positions from rising before Shanghai's urban renewal, especially considering that Ethernet real estate developers have delayed an important history of Internet reform and innovation.

Although there are a series of worrying factors, the options and futures sales market signals that applicable investors are traditionally bullish and firmly believe that the upward layout will remain consistent. From the perspective of technical index analysis, investors seem to feel that unless Ether falls below the safe passage support line of $1520, the bullish trend will continue.

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