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What will it take for Ethereum to breakout above $5000
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The top altcoin, Ethereum, has rallied and achieved new highs over the last couple of days. The broader sentiment for the coin remains bullish. In a way, greed has been dominating the minds of market participants. However, it should be noted that the altcoin has gradually started shedding value on its price chart.
After losing 1.4% of its value in the past 24-hours, Ethereum was seen trading at $4.72k, at the time of writing. Now, this downtrend comes at a critical juncture. Since Ethereum has successive options expiries lined up over the next three days.
As per data from Skew, over 165.3k ETH are set to expire in three batches this week, starting today – 10 November.
Source: Skew
Well, Skew’s OI by strike price chart instinctively suggested
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