Ethereum Price Up on Record Open Interest and ETF Optimism
Ethereum price has surged over 50% in under a week, climbing from around $2,000 to levels above $3,700. Recently, ETH broke above $2,025 as open interest in futures and options hit multi-month highs.
Derivatives data show $331 million in short positions could liquidate if ETH clears $4,000, raising the prospects of a short squeeze. On-chain metrics, including net inflows to exchanges and rising funding rates, further support bullish momentum.
ETF inflows, US legal clarity under the Clarity and GENIUS Acts, and anticipation of protocol upgrades drive optimism. Key resistance zones are $2,050–$2,100 and $3,850–$4,000; a sustained breakout could retest $2,200 and $4,000. Pullbacks to $1,950 or $3,742 may offer fresh entry points.
Technical indicators remain supportive, with 50-, 100- and 200-day SMAs trending higher.
Bullish
Record open interest across futures and options, combined with potential short-squeeze dynamics above $4,000 and strong on-chain metrics, point to continued bullish momentum. ETF inflows and US legal clarity further bolster confidence. Key resistance breakthroughs could trigger fresh rallies, while pullbacks to support levels offer entry points for traders, supporting both short-term and medium-term uptrends.