Key Factors to Analyze for ETH Today:
1. Price Action & Trends
- Current Price : Check if ETH is bullish, bearish, or consolidating.
- Support/Resistance Levels : Key levels to watch (e.g., $3,000, $3,500, $4,000).
- 24h Change : Is ETH up or down? Major movers (e.g., ETF news, upgrades).
2. Ethereum Network Metrics
- Gas Fees : High activity could indicate network congestion.
- Active Addresses : Growing usage is bullish.
- Staking Trends : ETH locked in staking (post-Ethereum 2.0 merge).
3. Macro & Crypto Market Sentiment
- Bitcoin Influence : Is BTC dragging ETH up/down?
- Altcoin Season? : ETH often leads altcoins.
- Regulatory News : SEC decisions on ETH ETFs, crypto regulations.
4. Upcoming Upgrades & Developments
- EIPs (Ethereum Improvement Proposals) : Any new upgrades?
- Layer 2 Adoption : Arbitrum, Optimism, zkSync usage trends.
5. On-Chain & Derivatives Data
- Open Interest (OI) : Futures market sentiment.
- Funding Rates : Positive (bullish) or negative (bearish)?
- Whale Movements : Large ETH transactions (track via Santiment, Glassnode).