ETH price tops $2.8K as options traders open bearish positions: Are bears wrong?

ETH
$2,781
 price surged 10% between Monday and Tuesday, reaching its highest level in over 15 weeks. Despite this rally, ETH has consistently struggled to break above the $2,800 mark over the past month. This resistance level has coincided with a growing use of downside protection strategies in ETH derivatives markets.

In addition to standard call (buy) and put (sell) options, traders often use combinations of instruments to design strategies aimed at either maximizing gains above certain levels or reducing exposure to losses. As a result, tracking demand for these options offers insights into how professional traders are positioning themselves.