Ethereum may be staring down a $1,750 roadblock. Brace for a potential detour to the $1,560 lane.
Ether’s price plunged 7% between June 14 and June 15, reaching its lowest level in three months and impacting investors’ view that the altcoin was en-route to turning $2,000 to support.
Being the 66th largest global tradable asset is no small feat, especially considering that the cryptocurrency is merely eight years old and does not return any kind of direct profit for the project’s maintenance. On the other hand, securities enjoy the benefits of corporate earnings and eventual government subsidies, so perhaps investors should be concerned by the recent price drop in Ether.
To analyze the odds of Ether’s price breaking below the $1,650 support, one should check for a reduced ETH futures premium and increased costs for protective put options.are popular among whales and arbitrage desks. However, these fixed-month contracts typically trade at a slight premium to spot markets, indicating that sellers are asking for more money to delay settlement.
To exclude externalities that might have solely impacted the Ether futures, one should analyze the ETH options markets. The 25% delta skew indicator compares similar call and put options and will turn positive when fear is prevalent because the protective put option premium is higher than the call options.The skew indicator will move above 8% if traders fear an Ether price crash. On the other hand, generalized excitement reflects a negative 8% skew.
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