Ethereum price moves toward new highs even as pro traders turn bearish

[Sharpmax]

Ether (ETH) price fell by 19.6% on April 18, resulting in the quick liquidation of $1 billion in long futures contracts. Despite the size of this record liquidation and its impact on Ether price, the futures' open interest remained above $20.5 billion, which is 5% below the previous month.
After the sell-off, there were signs that investor sentiment deteriorated, which was evident in derivatives markets.
Historically, there's much higher borrowing demand for Ether longs as opposed to shorts. Over the past couple of days, the long-to-short ratio flipped, reaching the lowest level since December 2018. Source

[Shivani Patil]

Top Reasons Why This Could Be the Best Time to Buy Ethereum (ETH)

After a sudden drop a few days ago, the Ethereum price is bouncing back. ETH is currently trading at $2,440, down 4.75% from its all-time peak of $2,550. From its lowest point on Sunday, the currency has risen by more than 25%.
Analyst Ben Lilly has been keeping a close eye on the ETH/USD buying and selling pair. The analyst claimed elevated volatility for the pair because it shifted close to a low level on its gamma curve, predicting the new bullish value movement.

The gamma on this trading pair also pointed at a “more explosive” price movement to the upside and more uncertainty in the direction of the weekend, as Ben Lily explained:
The Initial Break Higher Resulted In Nearly 800% Returns While The Second, Over 400%. These Types Of “Effects” Are What I Consider Breaking The Norm (…) . And For Now I See The Potential Of One Altseason Beginning To Take Form.

Source: CoinPedia