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Ethereum approaches a new ATH, but derivatives data reflects mixed emotions
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cointelegraph.comToday Ether (ETH) price briefly touched $4,760, exciting investors and reminding the world that the altcoin is a mere 2.2% below the $4,870 all-time high reached 20 days ago. While the spot price action might be intriguing, let’s see what’s happening in Ether’s derivatives markets.
While it is possible to draw a descending channel that shows support at $3,960, today's 5.4% positive move seems decoupled from Bitcoin's (BTC) negative performance.
Earlier today, commodities and stocks took a hit after the U.S. Federal Reserve acknowledged that inflation is more than just a "transitory" trend and Fed chair Jerome Powell said that the bank's relaxed money policies could end sooner than anticipated.
To understand how confident traders are about
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