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via Cointelegraph · By Cointelegraph Staff

Tom Lee Says Oil Prices Are Ethereum’s Biggest Headwind

ETH

ETH/USDT

$2,482.57

+1.11%

$2,482.57

+1.11%

(24s)

24h Volume

$7,639,871,097.60

24h H/L

$2,523.97 / $2,455.20

Change: $68.77 (2.80%)

Long/Short

55.8%

Long: 55.8%Short: 44.2%

Funding Rate

+0.0012%

Longs pay

Data provided by COINOTAG DATALive data

Ethereum

Daily

$2,493.56

▲ 0.53%

Volume (24h): -

Resistance Levels

Resistance 3$2,855.08

Resistance 2$2,639.52

Resistance 1$2,552.17

Price$2,493.56

Support 1$2,449.71

Support 2$2,372.73

Support 3$2,190.20

Pivot (PP):$2,472.79

Trend:Uptrend

RSI (14):64.7

Cointelegraph Staff

(07:02 AM UTC)

1 min read

Approved byMichael Roberts

0 comments

Rising oil prices since the US-Israeli war have been a consistent weight on the price of Ether for the last three months, according to Fundstrat co-founder Tom Lee.

“If one is wondering why Ethereum has been under selling pressure … to me, rising oil prices is the biggest headwind,” Lee said on X on Monday.

Lee said the inverse correlation between Ether prices and oil is at a record high.…

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Cointelegraph Staff · Cointelegraph

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