Ethereum price prediction: the premium for leveraged buys falls to zero, and $2,311 is the level that decides

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Analysis: it is documented that the funding rate for leveraged Ethereum buys on OKX has fallen to zero for the period up to midnight, the first time since October 13, and that Ether is quoted at $2,300 on Saturday evening. Our assessment follows further down: cheap leverage turns no price, and the 100-day line at $2,311 decides the direction.Anyone betting on a rising Ether in the futures market has paid nothing for the privilege since Saturday evening. The funding rate for the ETH perpetual contract on OKX stands at minus 0.00002 percent for the period up to midnight, which arithmetically is zero. It is the first non-positive reading since October 13. Over the seven days before that, buyers paid an average of 0.00579 percent per eight-hour period, or 6.34 percent annualised. Two things are documented by this: the surcharge for leveraged long positions has disappeared, and the spot price stands at $2,300.13 on Saturday, October 24, at around 6:40 p.m., 4.47 percent below its lev...