Many cryptocurrency traders imagine that the Ethereum (ETH) worth, at present $ 477, will rise within the quick time period. This perception; It may be confirmed by taking a look at lengthy positions, the variety of which has reached document highs.
Josh Olszewicz shared a picture of Ethereum (ETH) traders buying and selling futures on the cryptocurrency change Bitfinex in the present day. Drawing consideration to the short-long place stability out there, the crypto forex commentator emphasised that the variety of lengthy positions began to rise quickly.
All-time excessive quantity seen
Bitfinex, one of many largest cryptocurrency exchanges, hosts a document variety of lengthy positions for Ethereum. Information shared by Olszewicz present that the open positions opened by ETH bulls on the change reached an all-time excessive.
Started to fret traders
The rise within the variety of lengthy positions out there signifies that the variety of traders who assume that the Ethereum worth will enhance can also be beginning to enhance. Nonetheless, some cryptocurrency traders are nervous that this growth isn’t constructive for ETH.
Seeing too many individuals beginning to take a bullish angle, traders assume this might end result within the wind blowing in the other way. Some social media customers are giving a bearish message, implying that so many individuals can’t be proper. Others stated that the lengthy place elevated, however there weren’t sufficient purchase orders out there.
Too many individuals longing, not sufficient individuals really shopping for.
— Sasu 🌽 (@fry_crypto) November 19, 2020
