Cryptocurrency
Ethereum Makes 3rd Attempt at New Highs as Options Skew Turns Negative
As NewsBTC reports, “Ethereum made its third attempt to set new local highs against its Bitcoin trading pair in 2020 yesterday. This movement has shown signs of being fleeting, however, as the crypto has lost some of its momentum. “Although the cryptocurrency is flashing some subtle signs of near-term weakness, it is important to note […]
As NewsBTC reports, “Ethereum made its third attempt to set new local highs against its Bitcoin trading pair in 2020 yesterday. This movement has shown signs of being fleeting, however, as the crypto has lost some of its momentum.
“Although the cryptocurrency is flashing some subtle signs of near-term weakness, it is important to note that one data metric points to the cryptocurrency seeing a notable upswing in the days and weeks ahead.
“This possibility is elucidated by the cryptocurrency’s options skews turning negative, suggesting that traders believe it is primed to see upside volatility.
“Ethereum is currently trading up marginally at its current price of $235.
“ETH’s recent volatility has largely come about independent of that seen by Bitcoin and most other major altcoins…”