Are ETH Traders Awaiting Direction as Derivatives Activity Cools Down?

• ETH Derivatives activity on the Binance cryptocurrency exchange has cooled down.
• The cool-down happened amid a sideways, choppy price trend for the flagship altcoin.
• Analysts say the decline in ETH derivatives activity is a signal for a potential breakout.

Ethereum, the second-largest cryptocurrency by market capitalization, has maintained a sideways, choppy trend for the past few weeks, with the price retracing downward after every attempted rally. 

This trend pattern caused many traders to wait on the sidelines, without taking a trading position. From all indications, those traders are waiting for a breakout in either direction to decide what to do with the cryptocurrency.

A Changing Dynamics for Ethereum

In the meantime, cryptocurrency analysts have identified an event that could attract traders’ attention toward Ethereum. Data from CryptoQu…

Read The Full Article Are ETH Traders Awaiting Direction as Derivatives Activity Cools Down? On Coin Edition.