ETH options turn bearish as traders prepare for extended Ether price downside

💡 DMK Insight

Ethereum’s bearish trend is more than just a price dip—it’s a signal of deeper issues. With on-chain fees and network deposits at multiyear lows, traders should be wary. This suggests a lack of activity and interest, which could further pressure ETH prices. The derivatives market is crucial here; if metrics like open interest and funding rates don’t stabilize, we could see ETH struggle to maintain its current level around $1,926.27. Watch for any signs of recovery in these metrics, as they could indicate a potential reversal or further decline. On the flip side, if ETH can hold above key support levels, it might attract buyers looking for a bargain. But right now, the sentiment is shaky, and traders should be prepared for volatility. Keep an eye on the next few days for any shifts in trading volume or derivatives activity that could signal a change in trend.