• Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
edifyingcrypto.com
  • Home
  • Crypto News
  • Bitcoin
  • Ethereum
  • Blockchain
  • Regulation
  • Scams
  • Trading
No Result
View All Result
  • Home
  • Crypto News
  • Bitcoin
  • Ethereum
  • Blockchain
  • Regulation
  • Scams
  • Trading
No Result
View All Result
EdifyingCrypto.com
No Result
View All Result

Ethereum (ETH) and Solana (SOL) Hinting at Relief Rallies Going Into September, Says Crypto Analyst – Here’s Why

July 18, 2022
in Trading
Reading Time: 4min read
A A
0
Ethereum (ETH) and Solana (SOL) Hinting at Relief Rallies Going Into September, Says Crypto Analyst – Here’s Why
6
SHARES
20
VIEWS
ShareShareShareShareShare

A closely tracked crypto analyst says that smart contract platforms Ethereum (ETH) and Solana (SOL) are gearing up for rallies leading into September.

In a new video update, the host of InvestAnswers tells his 442,000 YouTube subscribers that investor trends in the options markets are hinting toward the likeliness of ETH rallying in the next couple of months rather than seeing further downside.

The host points out the lopsided ratio of call options versus put options in Ethereum, suggesting overwhelming bullish conviction on Ethereum’s upcoming merge.

A call option is a type of option that increases in value when the underlying asset rises.

“It’s important to to think about where the bets are being placed based on us now having this date of The Merge of September 19th…

Peculiarly enough, the max pain price is at $1,500, but look at that put to call ratio: 0.2. That is insane. It’s basically five times the number [of] people buying call options over put options, and that is quite impressive.

Also, there are lots of bets at $3,500, $4,000 Ethereum and $5,000 Ethereum by September. Of course, this doesn’t mean anything, we don’t know exactly what’s going to happen, but it is interesting to see that complete lack of bearishness for Ethereum.

So that tells me that maybe it will be ‘number go up’ time for Ethereum, and it has been smashed hard compared to many other things.”

Source: InvestAnswers/YouTube

The Merge is the highly anticipated upgrade that will allow Ethereum to shift from a proof-of-work to a proof-of-stake consensus mechanism, setting the stage for the blockchain to solve its scalability issues.

The analyst then looks at Solana’s option markets and says he also sees general bullishness from investors.

He points out that Solana’s max pain price, according to the derivative traders, is at $42, which is currently above SOL’s price of $39. He also notes Solana bears are betting relatively conservatively, with most put options placed at the $34 level, only about 15% below current prices.

A put option is the type of option that increases in value when the underlying asset falls.

“Thinking about September, and September could be a very good month for crypto. It could also be the time that the Fed pivots. I know a lot of people are talking about a 100 basis point hike in a week or two, but I don’t see that happening. Seventy five [basis points] yes, but 100 basis points, it just puts the country under too much pressure…

But here, we see the max pain price for Solana is $42, and the price of Solana just hit $40…

People are buying puts at $34, so overall, September looks good.”

Source: InvestAnswers/YouTube

 

I

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Check Latest News Headlines

 

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/vectorpouch/Vladimir Sazonov


Credit: Source link

Share2SendTweet2Pin1Share
Previous Post

Bitcoin Breaks Above Realized Price Again, Bottom Finally In?

Next Post

FTX Chief Sam Bankman-Fried Lays Out Three of the Biggest Use Cases for Crypto

Next Post
U.S. Treasury Sanctions Coin Mixer Allegedly Used by North Korean Hackers To Process Over $20,000,000 in Crypto

FTX Chief Sam Bankman-Fried Lays Out Three of the Biggest Use Cases for Crypto

Recommended.

Cardano Network Transactions Surge Despite Market Downturn

Cardano (ADA) Price Plunges As Bears Try To Over

May 4, 2023
Revamping Decentralized Exchanges Experience For New And Experienced

Revamping Decentralized Exchanges Experience For New And Experienced

April 19, 2021

Trending.

OKX partners with Pyth Network

OKX partners with Pyth Network

October 14, 2022
Bitcoin ETF Receives Approval from SEC, Marking Historic Day for Crypto

Bitcoin ETF Receives Approval from SEC, Marking Historic Day for Crypto

October 15, 2021
$MATIC Ready to Tumble? InQubeta Presale Surges Ahead

$MATIC Ready to Tumble? InQubeta Presale Surges Ahead

August 21, 2023
Cardano Introduces Lace 1.4: Introduces More Features, ADA Handle Support, and Bug Fixes

Cardano Rolls Out New Hydra Version to Scale to 1,000,000 TPS

August 21, 2023
Celsius Founder Lost Millions In Crypto By Taking Over Trading Strategy

Celsius Founder Lost Millions In Crypto By Taking Over Trading Strategy

August 16, 2022

About Us

This is an online news portal that aims to provide the latest crypto news and real-time updates around the world. Feel free to get in touch with us!

What’s New Here!

  • Under-the-Radar DeFi Altcoin Surges by 22% on Friday Amid the Rollout of New Mining Rewards
  • US-Based Crypto Exchange Gemini To Halt Trading Services in European Country of 17,000,000
  • LOBSTR and Allbridge Strengthen Partnership for Stellar, Ethereum, Polygon, and Celo

Subscribe Now

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2021 - edifyingcrypto.com - All rights reserved!

No Result
View All Result
  • Home
  • Crypto News
  • Bitcoin
  • Ethereum
  • Blockchain
  • Regulation
  • Scams
  • Trading

© 2021 - edifyingcrypto.com - All rights reserved!

  • bitcoinBitcoin(BTC)$23,890.00-4.13%
  • ethereumEthereum(ETH)$1,627.57-3.86%
  • tetherTether(USDT)$1.00-0.53%
  • binancecoinBNB(BNB)$304.25-3.50%
  • usd-coinUSD Coin(USDC)$1.00-1.00%
  • rippleXRP(XRP)$0.387498-2.02%
  • cardanoCardano(ADA)$0.379540-5.17%
  • binance-usdBinance USD(BUSD)$1.00-0.02%
  • okbOKB(OKB)$48.95-7.24%
  • matic-networkPolygon(MATIC)$1.32-8.82%