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3 key Ethereum derivatives metrics suggest $1,600 ETH support lacks strength

Ether (ETH) price is up 60% since May 3, outperforming leading cryptocurrency Bitcoin (BTC) by 32% over that span. However, evidence suggests the current $1,600 support lacks strength as network use and smart contract deposit metrics weakened. Moreover, ETH derivatives show increasing sell pressure from margin traders.The positive price move

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BNB, Solana Lead Gains in Majors; Traders Point to Dollar Strength for Further Upside

Not everyone is convinced of the upside, however. “Until the economy breaks either up or down not much is going to happen,” opined Chris Terry, vice president at crypto lending platform SmartFi. “We anticipate that bitcoin will continue to trade in this tight range of $20,000 plus or minus 10-15%.” Source

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