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 Ethereum network and causing average transaction fees to surpass $40 in early September. Although NFT trading volume…


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