Since the beginning of 2022, the crypto sector has had some very bad and uncertain days. However, since the beginning of May’s trading, the trend has quickly shifted into a deep bearish trend, which has worsened in recent days.
Almost all crypto assets, including Bitcoin, Ethereum, and others, plummet to 18-month lows, wiping out the profits made during the 2021 bull run. However, ETH prices are still holding strong at over $1200, indicating that the trend to the north may be reversing.
Several Large ETH Options Are About To Expire On June 24th; Will The Price of ETH Rise To $1700 Or Fall Below $900?
Market investors will not have to wait long for a significant trend reversal, as it is only 10 days away. Yes! You read that correctly: the price of Ethereum is set to see severe volatility due to a big option expiry on the horizon.
A few options are set to expire in the coming days, but the biggest one, the monthly expiry, might cause significant price volatility. According to Skew statistics, nearly 948.2K ETH is scheduled to expire, which could be a positive scenario for the asset.
The buy orders, or calls, are more than the sale orders, or puts, as shown in the graph above. The ETH price may mainly return to normal in the following ten days, as traders always place bets based on market conditions. However, the expiry remains distinct, and the possibility of traders reversing their chances cannot be discounted. Prices may undergo a considerable drop at the specified date in such circumstances.
As a result, the next ten days are critical for ETH prices, as a strong consolidation over $1200 may boost traders’ confidence in placing a ‘Call’ bet. The more buy orders there are, the more likely the Ethereum price will stabilise. Otherwise, if prices fall below $1100 or $1000, Put orders may outnumber Call orders, putting upward pressure on the second-largest asset.
For a long time, Ethereum has been a steady asset with fewer price fluctuations. As a result, if the asset continues to gain momentum over $1200, there is a better likelihood of a bounce back above $1700.
