Ethereum (ETH) has experienced a positive turn of events on both daily and weekly charts, with a 1.67% and 1.74% increase respectively. This has sparked hope for a potential recovery in the cryptocurrency market, particularly for Ethereum futures.
The recent performance of Ethereum has been lackluster, with the altcoin trading within a range of $3500 to $3300 over the past two weeks. This consolidation has left investors wondering what could potentially drive ETH towards a recovery.
CryptoQuant analyst Burak Kesmeci has shed light on four key Futures market metrics that could provide insights into Ethereum’s trajectory. These metrics include Funding Rate, Taker Buy-Sell Ratio, Open Interest, and liquidation.
According to Kesmeci’s analysis, Ethereum’s Funding Rate currently stands at 0.01, indicating a healthy market where long positions can support ETH’s spot market. The Taker Buy-Sell ratio is at 0.57, suggesting a dominance of buying sentiment in the derivatives market. This buying pressure is crucial for driving up prices through demand.
Additionally, Ethereum’s Open Interest has seen a 3.18% increase in 24 hours, signaling a temporary uptick in derivatives activity. The liquidation data shows that a significant amount of short positions have been liquidated, amounting to $6 million over the past day. This reduction in selling pressure in the derivatives market is a positive sign for Ethereum’s price trajectory.
While the performance of Ethereum in the derivatives market looks promising, it is essential to consider the spot market activity as well. The Exchange supply ratio, which reflects the supply of Ethereum on exchanges, has decreased to 0.14, indicating that investors are holding onto their assets in anticipation of higher prices.
Large holders of Ethereum have also shown positive sentiment, with the netflow remaining positive throughout the week. This suggests increased capital inflow from whales into the market. Long-term holders of ETH have also turned bullish, indicating confidence in the altcoin’s future prospects.
In conclusion, with bullish sentiment rising in both the derivatives and spot markets, Ethereum could be poised for a significant recovery in its price. If these conditions persist, ETH could break out of its consolidation range and reclaim $3700 levels. However, if bearish sentiments prevail, Ethereum may drop to $3200.
Overall, the positive developments in the Ethereum market signal a potential recovery for the altcoin, providing hope for investors and traders alike. “5 Tips for Improving Your Mental Health”
Taking care of your mental health is just as important as taking care of your physical health. In today’s fast-paced world, it’s easy to neglect your mental well-being. However, there are simple steps you can take to improve your mental health and overall quality of life. Here are five tips to help you get started:
1. Practice Mindfulness: Mindfulness is the practice of being present in the moment and paying attention to your thoughts, feelings, and surroundings without judgment. Mindfulness can help reduce stress, anxiety, and depression. You can practice mindfulness by engaging in activities such as meditation, deep breathing exercises, or simply taking a few moments each day to focus on your senses and be present in the moment.
2. Stay Active: Exercise is not only good for your physical health, but it can also have a positive impact on your mental health. Physical activity releases endorphins, which are chemicals in the brain that act as natural painkillers and mood elevators. Regular exercise can help reduce symptoms of depression and anxiety, as well as improve your overall mood and well-being. Aim to incorporate at least 30 minutes of physical activity into your daily routine, whether it’s going for a walk, jogging, or attending a fitness class.
3. Get Enough Sleep: Sleep plays a crucial role in your mental health. Lack of sleep can contribute to feelings of irritability, stress, and anxiety. Aim to get 7-9 hours of quality sleep each night to ensure you wake up feeling refreshed and rejuvenated. Establish a bedtime routine, such as reading a book or taking a warm bath, to help you unwind and prepare your body for sleep. Avoid caffeine, electronics, and stimulating activities before bed to ensure a restful night’s sleep.
4. Connect with Others: Social connections are essential for good mental health. Surrounding yourself with supportive friends and family can provide emotional support, reduce feelings of loneliness, and improve your overall well-being. Make an effort to stay connected with loved ones through phone calls, video chats, or in-person gatherings. Joining a club, volunteering, or attending social events can also help you meet new people and build meaningful connections.
5. Seek Professional Help: If you’re struggling with your mental health, don’t hesitate to seek professional help. A therapist or counselor can provide you with the tools and support you need to cope with stress, anxiety, depression, or other mental health concerns. Therapy can help you gain insight into your thoughts and behaviors, develop coping strategies, and work through difficult emotions. Remember, it’s okay to ask for help and prioritize your mental health.
In conclusion, taking care of your mental health is essential for your overall well-being. By practicing mindfulness, staying active, getting enough sleep, connecting with others, and seeking professional help when needed, you can improve your mental health and lead a happier, more fulfilling life. Prioritize your mental health and make self-care a priority in your daily routine.