Ethereum OI Jump 10% on $3.18B Inflow, ETH Break 2021 High
Ethereum derivatives open interest (OI) jump close to 10% as $3.18 billion new positions land within 24 hours, dey happen as ETH burst pass im 2021 all-time high of $4,860. Di rally wey come from 14% one-day jump last Friday after Fed Chair Jerome Powell talk for Jackson Hole, wey hint say policy fit ease, push ETH pass main resistance round ~$4,800. Taker buy volume too hit multi-month high of $5.76 billion per hour, show say buyers dey aggressive. Technical analysis show say bulls hold 100-SMA (~$4,298) before dem push price higher, 50-SMA dey go up and 200-SMA round ~$3,994. If di momentum hold, ETH fit target psychological $5,000 level; if dem reject am for $4,860, e fit make price test support zone $4,400–$4,500 again. Strong liquidity flow and OI growth show bullish outlook, but traders suppose watch leverage risk.
Bullish
Di big jump for Ethereum open interest plus strong buying volume from takers after one big Fed speech dey show say bull gist dey for both spot and derivatives market. Traditionally, when OI expand during breakout like ETH high wey dem pass for 2021, e dey lead to steady rally and price discovery phase. The mix of solid fundamentals (Jackson Hole Fed comments) plus technical proof (break pass multi-year resistance, SMA arrangement) mean traders trust say price go still rise, wey indicate say near-term outlook na bullish. But as leverage enter high level, e fit cause wahala if them unwind position, so risk management still important. For long term, if liquidity and trader belief stand gidigba, ETH fit reach psychological level around $5,000 and beyond.