Monthly Ethereum Options Data Suggests $2,000 Will Remain an Elusive Target
On August 26, $1.27 billion in ETH options expires and data indicates price should stay below $2,000 until the merger.
Market analysis
Since not closing above the $2,000 mark, the price of Ether (ETH) has undergone a strong correction of 16.8%, but that has not been enough to give the bears an edge on the $1.27 billion monthly options expiration in August.
Ether USD price index, 12 hour chart. Source: TradingViewCurrently there are mixed feelings about the network's upcoming shift to a Proof-of-Stake (PoS) consensus network and analysts like @DWhitmanBTC believe the potential benefits of PoS are not. replacing the lack of a supply cap and multiple changes in monetary policy over time.
uLtRaSoUnD monEy
Is #Ethereum even money?
If yes, what is the supply limit? What is monetary policy?
How can we be sure that it will not be modified?
— Dick Whitmanaut ∞/21M (@DWhitmanBTC) August 24, 2022Regardless of the long-term impact, the price of Ether was positively impacted by the tentative announcement of the Merge migration date during an Ethereum developer call on July 14. Influencer and technical analyst Crypto Rover said that Ether would “drop so hard on merge day,” following traders’ positions unwinding.
I think #Ethereum will drop so hard on merge day.
Not all anticipation is bought on the spot market but on the futures market.
Be warned.
— Crypto Rover (@rovercrc)
On August 26, $1.27 billion in ETH options expires and data indicates price should stay below $2,000 until the merger.
Market analysis
Since not closing above the $2,000 mark, the price of Ether (ETH) has undergone a strong correction of 16.8%, but that has not been enough to give the bears an edge on the $1.27 billion monthly options expiration in August.
Ether USD price index, 12 hour chart. Source: TradingViewCurrently there are mixed feelings about the network's upcoming shift to a Proof-of-Stake (PoS) consensus network and analysts like @DWhitmanBTC believe the potential benefits of PoS are not. replacing the lack of a supply cap and multiple changes in monetary policy over time.
uLtRaSoUnD monEy
Is #Ethereum even money?
If yes, what is the supply limit? What is monetary policy?
How can we be sure that it will not be modified?
— Dick Whitmanaut ∞/21M (@DWhitmanBTC) August 24, 2022Regardless of the long-term impact, the price of Ether was positively impacted by the tentative announcement of the Merge migration date during an Ethereum developer call on July 14. Influencer and technical analyst Crypto Rover said that Ether would “drop so hard on merge day,” following traders’ positions unwinding.
I think #Ethereum will drop so hard on merge day.
Not all anticipation is bought on the spot market but on the futures market.
Be warned.
— Crypto Rover (@rovercrc)What's Your Reaction?
