We dropped below 10 on July 16 after Ethereum’s rebound to $1,300. The highest level in 33 days. However, the improvement in trader sentiment was not enough to restore confidence. At the time of writing, we are in no man’s land as far as the delta skew is concerned, but we are leaning more towards negative price action.
Long-Short Ratio Shows Improvement
The Long-Short ratio tells us to what extent professionals currently expect a rise or fall in the price. The higher the ratio, the more traders expect a positive price development. Currently, OKX traders are the most optimistic, with a Long-Short ratio of 1.37.
Only at Huobi the Long-Short ratio is currently in favor of the shorts. We also see a positive ratio of about 1.05 at Binance. So most professional traders expect positive price action from Ethereum. Although we should add that the Long-Short ratio is usually positive.
