Ethereum options data suggests the battle for $4K ETH is at least a week away By Cointelegraph

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Ethereum options data suggests the battle for $4K ETH is at least a week away

For the past 40 days, Ether (ETH) has trended modestly upward, respecting a narrow channel most of the time. It enjoyed a brief rally toward $4,000 in the first week of September, but a subsequent crash brought the price into the ascending channel.

Ether price at Bitstamp in USD. Source: TradingView

In August, nonfungible tokens posted record-breaking transactions, clogging the network and causing average transaction fees to surpass $40 in early September. Although NFT trading volume has continued to subside, new items continue to be minted every minute regardless of whether they’re being traded.

options aggregate open interest for Sept. 3. Source: Bybt.com

The call-to-put ratio reflects a balanced situation

Minimal volatility is expected for this week

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