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Sunday, January 23, 2022

Ethereum bulls likely to profit $130 million on ETH options despite two-week slump By Cointelegraph

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Ether (ETH) investors have no reason to complain after the 344% gains accumulated in 2021 until Nov. 24. Still, analysts fear that the $4,000 resistance test on Nov. 19 is forming a descending channel that aims at $3,600 by mid-December, an 18% correction from the current $4,400 price.

Despite outperforming (BTC) by 16% in the past month alone and the pair climbing to 10-week highs, Ether seems to be struggling with its own success.

Ether/USD price on Bitstamp. Source: TradingView
Ether options aggregate open interest for Nov. 26. Source: Coinglass