It's organized in a narrow range, and the whales are made to separate from the rest

In recent days, the ETA has continued to fluctuate in a narrow range around US$ 1700, with short-line movement in no apparent direction. Despite the temporary stabilization of prices, the judgements of large and ordinary traders in the chain are being divided and market sentiment is not consistent.

The whale continues to be empty.

The chain monitoring data show that the address “pension-usdt.eth” increased its three-fold leverage ETH empty silos to 50,000 ETHs at current prices of approximately $8,528 million. Even with limited price fluctuations, the position had already shown a surplus of over $1.43 million.

Another giant whale opened a 20-fold-leveraging list of 23,000 ETH, with a nominal value of approximately $39.64 million, and then left the field flat and locked in profits of about $125,000. The continued high level of empty space shows that some large households are still in detention and continue to suffer from weakness.

However, empty space is not free of pressure. The CoinGlass data show that the market already has about $22 million in empty space cleared, suggesting that in the current volatile environment, radicalization is also at higher risk.

The market as a whole is still overstretched.

Unlike giant whales, the overall silo of the derivatives market is still more inclined to rebound. According to the data, the number of open areas rose to 2.73, with about 73 per cent of the unsatisfied positions being single and about 26 per cent empty.

This means that large households do not judge the post-market with a broader range of market participants. On the one hand, accounts with larger amounts of money continue to be empty, on the other hand, more traders are still holding their bets back.

Shortlines still see fluctuations.

Market-trading heat has increased in terms of derivative activity, but it is not yet sufficient to push prices out of the current range. The technical indicators cited in the article show that there is currently no clear advantage between buyers and sellers and that trend dynamics remain weak.

In this case, the ETA short line may continue to be organized between $1,600 and $1700. If the derivatives market continues to spread and triggers a larger, empty recovery, the price will have the opportunity to test up by $1850.