Ethereum price is expected to struggle at the $1,600 resistance level again, but noshitcoins says ETH options data reflects traders' willingness to be long on the upcoming Merge transition.
to a proof-of-stake consensus network in September. During the Ethereum core developers conference call on July 14, developer Tim Beiko proposed Sept. 19 as the tentative target date.
Regulatory uncertainty could be partially responsible for Ether's recent sharp correction. A class-action has been proposed against Yuga Labs for"inappropriately inducing" the community to buy nonfungible tokens and the ApeCoin token. Furthermore, the law firm claims that Yuga Labs used celebrity promoters and endorsements to"inflate the price" of the BAYC NFTs and the APE token.
. The petition claims that the exchange has no office in Manila and only uses"third-party companies" for its technical and customer support services.Investors should look at Ether's derivatives markets data to understand how whales and arbitrage desks are positioned. The 25% delta skew is a telling sign whenever traders overcharge for upside or downside protection.
There are occasional methodological discrepancies between different exchanges, so readers should monitor changes instead of absolute figures.Even though Ether has failed to break the $1,600 resistance, professional traders did not reduce their leverage long positions between July 19 and 26, according to the long-to-short indicator.
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