Is Ethereum Getting Ready to Rise from the Ashes? Whales Expecting These Levels in ETH in March!

Bitcoin (BTC) setting new records by surpassing its previous ATH seen in 2021 bull run while Ethereum (ETH) stands out with its weak performance.

At this point, while ETH still cannot surpass its ATH of 4,890 dollars from (November 2021) three years ago, it continues to trade at a price approximately 44% lower.

However, option investors expect a medium-term rise in Ethereum. Nansen research analyst Nicolai Sondergaard said that Ethereum option investors are showing a bullish tendency.

According to the Nansen analyst, who indicates that more than 70% of the open interest in options is in call contracts, an increasing number of investors are betting on ETH and expecting a rise.

Analysts added that investors expect an increase in Ethereum but continue to act cautiously.

"Ethereum option investors are mostly focused on calls. There is a lot of focus on the February and March expirations, especially for levels between $3,000 and $4,000.

The Low Put/Call Ratio also supports investors’ optimism. For these reasons, investors appear confident in the medium-term growth of Ethereum.

Sondergaard said that despite the optimistic outlook, whales are cautious about the price of ETH, indicating that there is still downside risk for ETH.

Analyst "Some major players are protecting against downside risk in ETH with put options, which represents 22% of block transactions, even though they generally expect an uptrend.

Ethereum, which has experienced a 4.6% increase in the last 24 hours, continues to trade at $2,805 at the time of writing.