📢 The open interest in Ethereum on Binance has increased by $681 million in the 24 hours before an anticipated price movement
Binance has witnessed a massive jump in open interest (Open Interest) for Ethereum contracts amounting to $681 million in just 24 hours, marking one of the largest increases in months.
This rise reflects an increase in trader activity and confidence in an impending significant movement in the price of Ethereum, which is currently hovering around the $4,136 level.
📌 Key Points:
An increase in open interest typically precedes strong price movements, either upward or downward.
Historically, similar jumps on Binance have been a signal for the beginning of sharp upward or downward waves.
Traders are currently on alert for a breakout or breakdown of key levels that may determine the next direction.
⚠️ Note: This is not financial advice, but rather a reading of the current market movement.
🔍 Do you expect the next movement to be upward 🚀 or downward 📉?
