Ethereum price approaches all-time high as Open Interest rises
The post Ethereum price approaches all-time high as Open Interest rises appeared on BitcoinEthereumNews.com. Ethereum price is trading firmly above $3,900, a high time frame support zone positioned over the value area high of last year’s range. Consolidation here suggests bullish continuation, with targets extending toward $5,800. Summary $3,900 Support: Key high-time-frame level above last year’s value area high. Bullish Structure: Consolidation favors continuation, with $5,800 as the next target. Open Interest Surge: Historic levels signal strong buying pressure and sustained demand. Ethereum’s (ETH) price action is showing strength as it holds above the $3,900 level, which sits just beyond the value area high of its prior yearly trading range. This area is now acting as a foundation for consolidation, providing a base from which Ethereum can build toward new highs. Ethereum is also holds above $4,500, with on-chain data and technicals hinting at further upside. With open interest climbing to historically elevated levels, market participants are increasingly confident in continuation, though risks remain if key supports are lost. Ethereum price key technical points $3,900 Support: High-time-frame level above the previous yearly value area high. Bullish Structure: Consolidation remains strong, with the next major target at $5,800. Open Interest Surge: Rising open interest highlights aggressive participation in the derivatives market. ETHUSDT (1W) Chart, Source: TradingView Ethereum continues to consolidate within uncharted territory, carving out a base above $3,900. This zone has become a crucial level of support, strengthening the bullish case as long as it holds. From a market structure perspective, even corrective pullbacks are constructive, as they would likely form higher lows on the macro time frame. This reinforces the idea that the prevailing trend remains upward unless a major breakdown occurs. The next notable upside target is the $5,800 extension, which represents a key Fibonacci projection. As Ethereum grinds higher within this consolidative range, the stage is being set for an eventual acceleration into this level. Importantly, bullish…
The post Ethereum price approaches all-time high as Open Interest rises appeared on BitcoinEthereumNews.com.
Ethereum price is trading firmly above $3,900, a high time frame support zone positioned over the value area high of last year’s range. Consolidation here suggests bullish continuation, with targets extending toward $5,800. Summary $3,900 Support: Key high-time-frame level above last year’s value area high. Bullish Structure: Consolidation favors continuation, with $5,800 as the next target. Open Interest Surge: Historic levels signal strong buying pressure and sustained demand. Ethereum’s (ETH) price action is showing strength as it holds above the $3,900 level, which sits just beyond the value area high of its prior yearly trading range. This area is now acting as a foundation for consolidation, providing a base from which Ethereum can build toward new highs. Ethereum is also holds above $4,500, with on-chain data and technicals hinting at further upside. With open interest climbing to historically elevated levels, market participants are increasingly confident in continuation, though risks remain if key supports are lost. Ethereum price key technical points $3,900 Support: High-time-frame level above the previous yearly value area high. Bullish Structure: Consolidation remains strong, with the next major target at $5,800. Open Interest Surge: Rising open interest highlights aggressive participation in the derivatives market. ETHUSDT (1W) Chart, Source: TradingView Ethereum continues to consolidate within uncharted territory, carving out a base above $3,900. This zone has become a crucial level of support, strengthening the bullish case as long as it holds. From a market structure perspective, even corrective pullbacks are constructive, as they would likely form higher lows on the macro time frame. This reinforces the idea that the prevailing trend remains upward unless a major breakdown occurs. The next notable upside target is the $5,800 extension, which represents a key Fibonacci projection. As Ethereum grinds higher within this consolidative range, the stage is being set for an eventual acceleration into this level. Importantly, bullish…
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