Today is the opening day of ETH futures on CME. It is known that the desk for CME's Ethereum futures hold ETH. If so, they would likely be interested in hedging short on a cash-settled futures contract such as CME's ETH.
They call it Ether. A travesty.
Note: This is a short term bias. Invalidation on break of open price.
Keep your eye on ETH futures over the next 24 hrs. They will be a good guide as to where the crypto market is headed.
Press the follow tag below and ill keep you updated as an when with my thoughts ;)
Nice buy power tonight in the main ETHUSD chart ahead of futures opening so I'm back long. Price bounced strongly of support and is currently trading above the...