Matrixport: Ethereum is currently in a digestion phase after being overbought, with limited potential to retest $5000 in the short term
BlockBeats News, September 2nd, Matrixport released a market outlook stating that Ethereum's transaction volume plummeted from $122 billion to $57 billion, as speculative long positions faced liquidation. Despite multiple technical supports below, the funding rate has dropped back to below 10%, indicating a slowdown in ETF capital inflows.
Currently, Ethereum is in a digestion phase after being overbought, with implied volatility still at a high level. For aggressive investors, selling covered call options can capture volatility premium, and the short-term possibility of returning to $5,000 is limited. Overall, risk control remains key, and Matrixport still maintains a cautious stance after the price breaks below a key support.
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