Perpetual futures can be executed on a short or long basis. Further investigation is necessary to determine what is going on.reveals that the price is currently within a resistance zone that has prevailed since November. Unsurprisingly, there was a return of significant sell pressure at this range during Thursday’s trading session.
This is evident by the drop in long liquidations despite the slight pullback during the last 24 hours. This may suggest that investors anticipate more uncertainty and perhaps another pullback at the current price range, hence the shift from leveraged long positions.The level of short liquidations has also dropped despite the price demonstrating some resilience against the downside in the last 24 hours.A comparison between ETH sending and receiving addresses offers some perspective.
Meanwhile, whales are not yet selling despite the latest upside. This was evident by the lack of downside in the supply held by top addresses.This was also confirmed by the lack of a spike in the age consumed metric which would otherwise confirm some selling pressure. In other words,Read the best crypto stories of the day in less than 5 minutes
Source: News Formal (newsformal.com)
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