Ethereum IG Client Sentiment: Our data shows traders are now at their most net-long Ethereum since Dec 18 when Ethereum traded near 132.39.
Number of traders net-short has decreased by 28.03% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
Ethereum: Retail trader data shows 94.25% of traders are net-long with the ratio of traders long to short at 16.38 to 1. Our data shows traders are now at their most net-long Ethereum since Dec 18 when Ethereum traded near 132.39. The number of traders net-long is 9.53% lower than yesterday and 6.87% higher from last week, while the number of traders net-short is 33.57% lower than yesterday and 28.03% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Ethereum prices may continue to fall.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Ethereum-bearish contrarian trading bias.
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