Share this article
Futures Boost? Ether Looks Up on 11-Week High
With talk of a possible derivatives market on the way, the price of ether, ethereum's native token, looks to be on the rise.
Updated Sep 13, 2021, 7:10 a.m. Published Nov 20, 2017, 2:00 p.m.
Having clocked an eleven-day high on Sunday, the price of ether, ethereum's native token, may have more gains ahead.
As per CoinMarketCap, the cryptocurrency rose to $371.29 yesterday – its highest level since Sep. 2. Week-on-week, ETH has gained 13.22 percent, while on a monthly basis, it is up 15.08 percent. At time of writing, the ether-U.S. dollar (ETH/USD) exchange rate is at $358 levels.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
ETH seems to have pushed fears over the Parity wallet freeze on the back burner and moved higher to $350 levels in line with the bullish technicals as expected. The bid tone strengthened on Nov. 16 alongside a Bloomberg report that said the second-biggest cryptocurrency is poised to get its own derivatives market.
"Contracts on the ether digital currency will be offered by an as-yet-unnamed exchange going by the code name Virtuoso," the report said. "Virtuoso" will reportedly be regulated by the U.S. Commodity Futures Trading Commission, and plans to offer futures, non-deliverable forwards, swaps and forwards by the first or second quarter of 2018.
If the plan comes to fruition, ether derivatives will provide an avenue for yield-hungry institutional investors to invest in an asset that is up 4,000 percent on a year-to-date basis.
The price action analysis suggests ether is aiming for record highs and any dips are likely to be short-lived.
Ether chart
The above chart shows:
- A solid bullish Bollinger band breakout
- Prices closed above resistance of $350 (Oct. 16 high)
- Bullish relative strength index (RSI)
- All major averages – 50-day MA, 100-day MA, 20-day MA, 10-day MA – are sloping upwards in favor of the bulls.
View
- Ether looks set to test record highs above $400 levels over the next week or two.
- Dips, if any, are likely to be capped below the 10-day MA level of $332 levels.
- Only an end-of-day close below $310 (50-day MA) would abort the bullish view.
Ladder image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
What to know:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
Top Stories
