Crypto
Ethereum Price Steady at $2,370 Amid Leveraged Positioning Expansion
Ethereum's price held steady at $2,370 on August 21 as leveraged positioning expanded.
The ETH futures activity remained significantly larger than spot trading volume, with CoinGlass recording $74.22 billion in 24-hour futures turnover and $5.07 billion in spot volume.
Resistance near $2,396 could determine the next short-term move for Ethereum's price.
Crypto analyst CW noted that high-leverage short positions continued forming during the advance, while Rain observed that ETH had cleared the $1,980 to $2,000 resistance area and predicted a deeper retracement if it fails to hold above this level.