Ether tests $1,200 but better positioned for $1.13 billion options expiration on November 25
The bears are better positioned to take advantage of around $215 million when Ether options expire in November, which exerts a ETH price pressure close to critical resistance level.
Market analysis
No matter if one analyzes the longer-term or weekly time frame of Ether (ETH), there is little hope for the bulls. In addition to the negative 69% year-to-date performance, a descending channel has put pressure on ETH price while providing resistance at $1,200.
Ether/USD 4-Hour Price Index . Source: TradingViewRegulatory uncertainty continues to weigh on the sector. For example, Starling, a UK-based digital bank, announced on November 22 that it would no longer allow customers to send or receive money from digital asset exchanges or merchants. The bank described cryptocurrencies as "high risk and widely used for criminal purposes".
Other worrying news for the Ethereum ecosystem included decentralized finance (DeFi) platform AAVE, which suffered a short-selling attack on November 22 aimed at profiting from under-collateralized loans.
Surprisingly, a similar exploit occurred on the Mango Markets DeFi app in October. Although not a direct attack on the Ethereum network, the attacker showed critical flaws in some major decentralized collateral lending applications.
Furthermore, Singapore-based cryptocurrency lender Ho...
The bears are better positioned to take advantage of around $215 million when Ether options expire in November, which exerts a ETH price pressure close to critical resistance level.
Market analysis
No matter if one analyzes the longer-term or weekly time frame of Ether (ETH), there is little hope for the bulls. In addition to the negative 69% year-to-date performance, a descending channel has put pressure on ETH price while providing resistance at $1,200.
Ether/USD 4-Hour Price Index . Source: TradingViewRegulatory uncertainty continues to weigh on the sector. For example, Starling, a UK-based digital bank, announced on November 22 that it would no longer allow customers to send or receive money from digital asset exchanges or merchants. The bank described cryptocurrencies as "high risk and widely used for criminal purposes".
Other worrying news for the Ethereum ecosystem included decentralized finance (DeFi) platform AAVE, which suffered a short-selling attack on November 22 aimed at profiting from under-collateralized loans.
Surprisingly, a similar exploit occurred on the Mango Markets DeFi app in October. Although not a direct attack on the Ethereum network, the attacker showed critical flaws in some major decentralized collateral lending applications.
Furthermore, Singapore-based cryptocurrency lender Ho...
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