Ethereum derivatives lean bullish even as ETH price sits at a key support

Ether (ETH) lost the $1,750 support on March 22, which marked a 7% loss and $230 million worth of futures contract liquidations. It has been holding near the strong support at $1,670, although investors are unwilling to open new long positions despite the price being 11% below the previous week’s high.

Ether price on Coinbase, USD. Source: TradingView

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