Ether Trades Below 50-Day Average as Open Interest Rises 4.86%

Ether (ETH) fell 1.76% to $2,528.64 on Oct. 13, trading below its 50-day simple moving average as futures open interest increased and taker sell volume exceeded taker buy volume.

The Binance spot range was $2,409.09 to $2,579.88. ETH remained above its seven-day SMA at $2,508.00 and 200-day SMA at $2,139.54, but stayed below the 20-day SMA at $2,628.50, 50-day SMA at $2,557.38, 12-day exponential moving average at $2,561.80 and 26-day EMA at $2,576.93.

Binance Futures open interest rose 4.86% over 24 hours to 2,305,347.28 contracts, representing approximately $5.84 billion in notional value. Open interest measures outstanding futures contracts and does not show whether the increase came from long positions, short positions or both.

During the one-hour period ending at 3 a.m. ET (07:00 UTC), taker sell volume reached 48,932 contracts, compared with 41,109 contracts in taker buys. Selling exceeded buying by 7,823 contracts, producing a taker ratio of 0.8401.

The eight-hour funding rate was 0.0006%. At 3 a.m. ET (07:00 UTC), global accounts were 73.2% long and 26.8% short. The top-trader cohort was 64.2% long and 35.8% short.

The figures show increased futures positioning and stronger short-term selling activity, but they do not establish that new positions were predominantly short.