Ethereum futures open interest hits a 19-month high, but the weakness in ETH price intensifies
Ethereum experienced a 10% pullback from July 31 to August 2, returning to the $3,000 support level for the first time since July 8. This trend far exceeded the overall cryptocurrency market's decline of 6.8% during the same period. However, Ethereum futures' open contracts still rose to their highest level in seven months, leading traders to speculate whether it could rise to $3,600 next.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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