以太坊价格面临更多短期调整的风险

从上图可以看出，当 10 月 15 日星期二价格达到 2,628 美元的峰值时，以太坊未平仓合约已升至 130.8 亿美元。

A technical analysis of Ethereum price movements shows that traders closed out their positions after the second-largest cryptocurrency by market cap hit a peak price of $2,628 on Tuesday, Oct 15.

对以太坊价格走势的技术分析显示，在市值第二大的加密货币于 10 月 15 日星期二触及 2,628 美元的峰值价格后，交易者平仓。

According to data from Coinglass, Ethereum Open Interest reached $13.08 billion at the time, but has since declined to $12.77 billion at the time of writing on Oct 17. This marks a capital outflow of over $310 million within the last 48-hours.

根据 Coinglass 的数据，以太坊未平仓合约当时达到 130.8 亿美元，但截至 10 月 17 日撰写本文时已降至 127.7 亿美元。这标志着过去 48 小时内资本外流超过 3.1 亿美元。

Usually, when open interest begins to decline as key resistance levels are tested, strategic investors may interpret this as a short-term bearish signal for two key reasons.

通常，当未平仓合约随着关键阻力位受到测试而开始下降时，战略投资者可能会将其解读为短期看跌信号，原因有两个。

This behavior indicates that the buying pressure is weakening, which can prevent further upward price movement.

这种行为表明购买压力正在减弱，这可以阻止价格进一步上涨。

In Ethereum’s case, the $2,628 price point appears to be a formidable resistance level, and without sustained bullish momentum or fresh capital inflows, the likelihood of a retracement increases.

就以太坊而言，2,628 美元的价格点似乎是一个强大的阻力位，如果没有持续的看涨势头或新的资本流入，回调的可能性就会增加。

Consequently, unless new buyers step in to support the $2,600 breakout attempt, Ethereum could be vulnerable to a short-term pullback towards lower support levels, potentially closer to the $2,500 range.

因此，除非有新买家介入以支持 2,600 美元的突破尝试，否则以太坊可能会受到短期回调，跌向较低的支撑位，可能接近 2,500 美元的区间。

The second interpretation of declining open interest is that it can be viewed as a derivative market “sell the news” event. This occurs when traders anticipate an event (such as a price peak) and build up positions accordingly.

对持仓量下降的第二种解释是，它可以被视为衍生品市场的“卖出消息”事件。当交易者预测某个事件（例如价格峰值）并相应建立头寸时，就会发生这种情况。

However, once the event takes place and prices begin to move in the anticipated direction, these traders quickly close out their positions to secure profits or minimize losses, leading to a decrease in open interest.

然而，一旦事件发生并且价格开始朝预期方向移动，这些交易者就会迅速平仓以确保利润或最大程度地减少损失，从而导致未平仓合约减少。

This behavior can be seen in the case of Ethereum, where traders may have expected the coin to continue rising after hitting $2,628, but instead began closing out their positions as prices showed signs of pulling back.

这种行为可以在以太坊的例子中看到，交易者可能预计该代币在触及 2,628 美元后将继续上涨，但随着价格出现回调迹象，他们开始平仓。

Overall, the decline in Ethereum Open Interest suggests that traders are becoming less optimistic about the coin’s short-term price movements. This could indicate a potential for further price corrections in the coming days.

总体而言，以太坊持仓量的下降表明交易者对该代币的短期价格走势变得不那么乐观。这可能表明未来几天价格可能进一步调整。