Greeks.live: Ethereum falls below key support level of $2,000, traders generally bearish

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PANews
03-28
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PANews reported on March 28 that Greeks.live analyst Adam said that traders are generally bearish on Ethereum, believing that ETHBTC is weak and that the price of Ethereum has fallen below the key support level of $2,000. Most people believe that selling Ethereum call options is one of the best strategies in the near term, while Bitcoin has received some support above $85,000.

In terms of options trading, most people believe that the calendar spread strategy (sell near and buy far) has advantages in the current Ethereum market, especially after a large number of options expired today. At the same time, the price of Bitcoin was supported above $85,000. According to analysis, this is mainly due to the buying of about 1,500 Bitcoins on the Binance exchange and the hedging behavior of market makers. Many traders shared their recent experiences and believed that it is safer to adopt an option hedging strategy than to maintain price exposure, especially in the current market uncertainty.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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