In October, Ethereum’s derivatives trading on Binance approached 560 billion USD, indicating significant market activity. Despite a 4.28% dip in Open Interest, 70.63% of traders holding long positions suggest continued optimism.
Key resistance levels for Ethereum are at 4,259 USD and 4,756 USD. A strong rally could occur if ETH surpasses these points, although maintaining support above 3,950 USD is crucial for continued bullish momentum.
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