Ethereum is showing signs of a rebound, with technical patterns indicating a breakout and fundamentals suggesting increased leverage.
Ethereum’s leverage ratio and open interest show key trends that could influence price movements soon.
The current market activity shows the formation of another Symmetrical Triangle just above this trendline, hinting at the possibility of an imminent rebound for Ethereum. A Symmetrical Triangle, on the other hand, is a chart pattern characterized by converging trendlines, indicating a period of consolidation before a breakout.
This ratio represented the amount of leverage traders are using, calculated as Open Interest divided by exchange reserves.An increase in this ratio implies that more leverage is being applied, often signifying higher expectations for price volatility.
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