Ethereum Price Rises 5% Ahead of $42.4 Billion Options Expiry
Ethereum's price has increased by 5%, surpassing critical resistance levels as bullish sentiment rises ahead of the $42.4 billion options expiry on May 30. Daily trading volume for ETH has also risen by 12.46% to $26.15 billion.
Key Points on Ethereum's Price Movement
- Ethereum options trading volume is up 18.95% to over $1 billion.
- Options open interest has reached nearly $9 billion.
- $2.4 billion in options contracts are set to expire on May 30, potentially pushing ETH above $2,700.
- Bulls aim to keep ETH above $2,600, with $1.1 billion in put options at or below this level, risking expiration.
- Put-call ratio has fallen to 0.53, indicating bullish dominance.
- Call options significantly outnumber puts across various price ranges.
Spot Ethereum ETF Inflows
- Total inflows into spot Ethereum ETFs reached $84.6 million recently.
- BlackRock’s iShares Ethereum Trust (ETHA) received $52.7 million, while Fidelity’s FETH attracted $25.7 million.
Technically, Ethereum shows signs of breaking out from a flag-and-pole pattern, with potential moves towards $3,300 if momentum continues.