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OKEx introduces Ethereum-based perpetual swaps, no market reaction so far

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  • Ethereum continues sliding down.
  • OKEx prospects get entry to ETH-based derivatives with 40x leverage.

Ethereum is altering arms at $127.15, down Four% because the starting of the day. The is buying and selling in a spread with a draw back bias because the cryptocurrency market is retracing from the latest highs reached forward of Christmas

Cryptocurrency change OKEx launched a perpetual swap – a cryptocurrency by-product primarily based on Ethereum. Based on the announcement printed on the corporate’s web site, the devices can be found for buying and selling since December 26, 13.00 (CET). 

Perpetual ETH-swaps permit OKEx prospects to commerce the cryptocurrency with 40x leverage. The contract is denominated in ETH and equal to $10. The swap worth is set on the premise of the costs for ETH in opposition to USD and BTC supplied by Bitstamp, OKEx, Bitfinex, GDAX, and Gemini. 

The corporate additionally plans so as to add perpetual swaps for LTC, ETC, XRP, BCH, and BSV.

Ethereum’s technical image

On the intraday charts, ETH/USD is supported by SMA50 (Four-hour). at present at $122.66. The worth touched this barrier forward of the European opening, however managed to get well fairly rapidly. As soon as this impediment out of the way in which, the sell-off might proceed in direction of essential $120.00, the place a contemporary shopping for curiosity is more likely to seem.

On the upside, the resistance is created by psychological $130.00 and adopted by a congestion zone at $133.50. It additionally represents two shoulders on the “Head-and-Shoulder” formation on the Four-hour chart. Whether it is damaged, the upside could also be prolonged in direction of $150.00 and to the latest excessive at $161.

ETH/USD, Four-hour chart

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