Key results:

• Ether bonus and derivatives and derivatives remain stable, reflecting immunity despite the recent slowdown in prices.

• Onchain indicators emphasize the dominance of Ethereum in fees and TVL, supporting stronger long -term potential.

It seems that Ether (ETH) found support of nearly 4,070 USD on Wednesday after a piercing drop in six days, 15.1%. This movement erased $ 817 million in stubborn positions, but it was not possible to cause a wide bear change. Instead, ETH derivatives show that traders remain unmoved by an additional downside, which suggests that USD 4,700 remains at their fingertips.

The annual ETH ETH bonus was above the neutral threshold of 5% throughout the inheritance, signaling trust. Monthly Futures usually trade higher than point markets to reflect a longer billing period, but the last significant signal from this record occurred in January. Even 100% ETH rally from July 1 to August 13 could not fully restore the trader’s optimism.

Economic uncertainty denied the mood of investors

Part of this hesitation results from macroeconomic uncertainty. US inflation remains stuck above the target of 2% of the federal reserve, while economic growth has uneven signals. The Nasdaq composite fell in love with the second session in a row on Wednesday, exerting fears that artificial intelligence reserves can be excessively valued.

CNBC Reported Traders charged the positions before the chairman of the US Federal Reserve Jerome Powell on Friday. “If Powell’s language is more hawk, it may even exert pressure on technological actions,” noted Carol Schleif, the main strategist of the market at BMO Private Wealth. Meanwhile, the weaker earnings of retail Target emphasized the stress related to profitability.

Unlike expectations, ETH options suggest a neutral attitude, with balanced demand for both the defect and the protection of the mountain. The current 4% reads the division between PUT (Sell) and Call (buy). Despite this, the lack of stronger optimism after ETH briefly increased above USD 4,700, it is a bit disturbing because it signals hesitation before naming the fresh highest all time.

Ethereum Onchain Activity signals a higher demand for ETH

Onchain’s activity paints a more constructive image. Ethereum continues to expand its dominance over competitors, ensuring about 60% of the total blocked market value (TVL), according to Defillam. Even more crucial network fees are climbing, reflecting the stronger demand for blockSpace, which supports the recovery of ether prices.

The 7-day Ethereum fees increased on Wednesday to $ 11.2 million, which is an augment of 38% compared to the previous week. For comparison, the Solana fees increased only 3%, while the revenues from the BNB chain dropped by 3%. This discrepancy emphasizes the dominance of Ethereum in decentralized exchange volumes, which according to Defillam has reached $ 129.7 billion in the last 30 days.

Related: Bitcoin, Ether ETFS Praze almost $ 1 billion as the price drops

While ether derivatives still suggest caution, the attitude reflects the broader correction of the cryptographic market, not the basics of Ethereum. Traders seem cautious that American import tariffs may consider global growth by pushing investors to risk aversion.

Ultimately, the ETH path to recover USD 4,700 depends on the decrease in investors’ fear of the economy. Despite this, the data on derivative instruments indicate that professional traders remain composed, showing no signs of panic even after re -re -USD, confirming the fact that the recovery of etern rests on a stronger ground than many initially assumed.

This article is used for general information purposes and should not be and should not be treated as legal or investment advice. The views, thoughts and opinions expressed here are themselves and do not necessarily reflect or represent the views and opinions of Cointelegraph.