#BNBATH880 Futures of ETH reflect traders' fear, while on-chain data points to a price recovery.$ETH
The price of Ether shows resilience despite macroeconomic uncertainty, with stable derivatives and on-chain activity strengthening the outlook for a recovery.
💥Key points:
🔸The premium of Ether futures and derivatives remain stable, reflecting resilience despite the recent price drop.
🔸On-chain metrics highlight Ethereum's dominance in fees and TVL, supporting greater potential for long-term recovery.
Ether ETH 3702 € seems to have found support near $4,070 on Wednesday, after a strong 15.1% drop over six days. The move wiped out $817 million in bullish leveraged positions but failed to trigger a widespread bearish shift. Instead, ETH derivatives show that traders remain unfazed by a potential additional drop, suggesting that $4,700 is still within reach.