The perpetual futures trading volume of Ethereum (ETH) has surpassed Bitcoin (BTC), indicating a rapid shift of market interest, according to analysis. In the short term, a weak RSI divergence has been detected, signaling that the upward momentum has been temporarily exhausted.
Ethereum has been hovering just below the $4,000 level since December 2023. Traders are divided on whether it can break through this resistance level. However, market bulls are focusing on the key price range of $4,500, which corresponds to the +1ฯ active realized price band. This indicator represents the average acquisition price of Ethereum actively traded on the network.
According to the on-chain analysis platform glassnode, this point served as a strong resistance level during the March 2024 peak and the 2020-2021 cycle. Continuously breaking through this line could trigger a sharp price rally, but simultaneously, there is a possibility of correction and structural volatility due to overheating.
The futures trading volume of Ethereum surpassing Bitcoin in market structure suggests a shift in investor sentiment and is expected to be a key variable in future price movements. However, analysis also indicates caution is needed for short-term trends as the RSI divergence warns of potential price fluctuations.
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