What Does the Future Hold for the Value of Ethereum?

The main Ethereum token seems to be headed to a trading period that will feature all-time highs. In recent times, ETH prices have shown some impressive gains, and there have also been some notable pullbacks. However, for some months now, there have also been several periods where Ethereum price has failed to post record high exchange prices. What is taking place now looks like bullish traders are attempting to push prices upward for the benefit of those who wrote options contracts that will be expiring soon.

Ether prices recently rebounded from recent lows after ETH prices rose for several days straight. Then, the downtrend extended until yesterday. This gave ETH prices an opportunity to rebound and they did not disappoint. The price rebounded after the last uptrend ended. It only took two days for the ETH price to record its best day thus far in 2021. As mentioned above, there are market forces at play, namely $930 million woth of ETH options.

We have been looking at trading range that has fluctuated between $2,000 and $2,650. The most6 hopeful analysts have been calling for a target price of $3,000 at some point in May, but that is still a long shot for ETH even with all these options contracts currently in play. The open interest on all ETH futures has surpassed $8 billion.

While there is a significant number of new buyers and sellers in the ETH marketplace, the most active options platform continues to be Bithumb, which has seen ETH values fall recently, and has made a series of trades against ETH, but things are coming full circle for the overall market to turn quite bullish again. Traders have also been very active on Twitter and Instagram. It seems like the futures markets are becoming a bit bigger in scope with more market action.

Ether, like many other tokens, is currently operating with an uncertain future, however, there is always at least one event pushing ETH price towards a higher point. It should be noted that ETH is still not considered to be a token that will achieve widespread circulation.