Coinbase Premium Index and Open Interest Resistance Zones Key to Market Uptrend
The Coinbase Premium Index has reached a critical resistance zone. If this zone is breached, it could signal the start of a significant uptrend. This area is being closely monitored for any movements.
Similarly, the Open Interest resistance zone is under scrutiny. Manipulation of this zone could lead to a pullback, but a break with substantial volume would indicate a healthy continuation of the uptrend.
Funding rates have hit extreme levels in the short term, reflecting increased interest from smaller investors. A rise is anticipated following a corrective phase aimed at market stabilization.
Authored by TraderOasis