Ether (ETH) is encountering resistance near the $1,700 level, with analysts warning of a possible new selling wave. This comes as demand for the cryptocurrency declines and futures open interest has dropped significantly.
According to CoinTelegraph, exchange inflows, weakening demand, and a 31% decrease in Ether futures open interest may indicate that further selling pressure is on the horizon for ETH. These factors suggest cautious sentiment among traders and investors.
For Japanese market participants, this development highlights the importance of monitoring global crypto liquidity trends, as shifts in futures activity and exchange flows can influence local trading dynamics and risk management strategies.