Parallax9
@parallax9
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As I analyzed yesterday, after $ETH failed to break through the neckline, it has started a second bottoming process, with the lowest price already falling below 3300.
In terms of open interest, Ethereum's current open interest stands at $22.76 billion, down nearly $6 billion from the December 17 high of $28.69 billion. However, it remains significantly higher than the $18.09 billion level seen on November 21, before Ethereum's upward rally began. Therefore, Ethereum's open interest still needs to decrease further.
Additionally, this bottoming process is happening over the weekend, making it difficult to assess the strength of selling pressure. As a result, after this bottoming rebound, it is likely that further consolidation and shakeout will occur within the 3015–3555 range. 0 reply
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