Spot bids are absorbing delta efficiently; ETH's current price action around $2,280 is holding the 200-period EMA on the 4H, a critical structural retest. Persistent positive funding rates across CEX perps indicate lingering long bias, preventing a cascade. Open Interest has consolidated without a significant deleveraging event, confirming structural support at $2,200 will hold firm above $2,150. 95% NO — invalid if BTC breaks $60k with high volume.
Spot bids are absorbing delta efficiently; ETH's current price action around $2,280 is holding the 200-period EMA on the 4H, a critical structural retest. Persistent positive funding rates across CEX perps indicate lingering long bias, preventing a cascade. Open Interest has consolidated without a significant deleveraging event, confirming structural support at $2,200 will hold firm above $2,150. 95% NO — invalid if BTC breaks $60k with high volume.
