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Traders Forecast $ 3K Ethereum Price, But Derivatives Data Suggests Otherwise By Cointelegraph

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Traders Forecast $ 3K Ethereum Price, But Derivatives Data Suggests Otherwise By Cointelegraph
Traders Forecast $ 3K Ethereum Price, But Derivatives Data Suggests Otherwise

Ether (ETH) rallied 35% in the past ten days and regained the critical support of $ 2,300, but the crucial local top of $ 2,450 has not been tested since June 17. Part of the recent recovery can be attributed to London’s hard fork, which is expected to go live on August 4.

Traders and investors see the Launch of EIP-1559 as a bullish factor for the price of ether because it is expected to lower gas rates. However, the ether miners are not thrilled with the proposal because the proof-of-work model will no longer be needed after ETH2.0 goes live.

Ether price in USD on Bitstamp. Source: TradingView
September Ether Futures Premium on OKEx. Source: TradingView
Ether 1-month options Delta deviation of 25%. Source: laevitas.ch