Ethereum has been on an upward trend since March, when the price dropped to $90, reaching a trading high of $444 on August 14th, which has acted as strong resistance in the last few days. The prices in the spot market for Ethereum has now stabilized and playing around $125.
However, future and options data analysis is showing that there is still an upward trend pending for the second-largest cryptocurrency by market value. The figures for both the Ethereum futures and options show that buyers are bullish, and investors are still optimistic about a final push that will see the ethereum spot market close above $500 very soon.
Futures data analysis of Ethereum
The futures data on Ethereum indicated that in the last three months, Futures trader have been very bullish on the cryptocurrency, indicating a 250 percent futures growth. Data also showed that annualizing futures contract price against the spot prices has an annualized 20 percent premiums. The futures market is a clear indication of investors’ confidence in the spot market’s ability to push upwards of $500 in the near future.
Options data analysis
In the options market, the put/call ratio is currently neutral. However, three months ago, the options market had the put/call ration at a 20 percent ratio. This data indicates that investors in this market are also expecting a bullish push on ethereum spot market prices, since the call value indicates a neutral or bullish sentiment, whereas a put indicates that investors are anticipating prices of the trading commodity to be bearish.
The options data also suggest that call options are more than put options, also confirming the bullish sentiments of the cryptocurrency in the market.
Analysis of both futures and options data, therefore, indicate that investors are optimistic that the prices of the cryptocurrency will be headed for an upward of $500 in the coming future. The data also shows confidence in the currency’s ability to continue its current trajectory.