The ETH momentum indicator has soared to its highest level since May 2021

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Bitget2024/05/23 23:59

According to data from TradingView, the ETH momentum indicator (measuring the rate of price change within 10 days) has soared to $880, the highest level since May 2021. Other indicators such as RSI also show a similar trend. Options traders in the decentralized market Lyra predict that by the end of the second quarter, Bitcoin prices will rise to $5,000. The current resistance is at the high point of $4,090 set in April, followed by a historical high of $4,692 set during the bull market in 2021.

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Data: BTC options expiration of 143,000 contracts with a max pain point at $98,000; ETH options expiration of 572,000 contracts with a max pain point at $3,400.