Ethereum (ETH) futures market's Open Interest has surged by 40% over the past 30 days, reflecting strong buying sentiment, while spot-based Ethereum ETF has recorded inflows for four consecutive weeks. Overall, this trend suggests the possibility of ETH breaking out of its long-standing sideways movement.
Over the past 30 days, ETH has been trading in the range of $2,300 to $2,800 without showing a clear direction. However, technical indicators imply an imminent upward breakout. Particularly on the 4-hour chart, ETH is maintaining support above the 200-day Exponential Moving Average (EMA), and forming a Hidden Bullish Divergence pattern with RSI. This pattern, where price maintains progressively lower highs while RSI creates lower lows, is typically interpreted as a bullish reversal signal.
Experts diagnose that this pattern could potentially drive ETH prices to the $3,100 to $3,600 level. The recent strong capital inflow further reinforces the optimistic outlook. Institutional fund inflows through ETFs are considered a factor supporting a long-term upward trend.
While the market is focusing on ETH's direction, it is also closely monitoring macro risk factors such as Bitcoin (BTC) volatility and policy uncertainties surrounding Trump. However, from a technical perspective and in terms of capital flow, ETH appears to be laying the groundwork for breaking through key resistance levels.
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