Ethereum surges 65%, real bull or fake frenzy? Key resistance is near, will it break through or pull back?
In the past month, ETH skyrocketed from $1,600 to $2,663, an increase of nearly 65%.
Do you think it's just short-term speculation? Wrong. Binance's open interest directly surged to $5.1 billion, with the total network open interest soaring to $17 billion, driven by institutions and derivatives players making aggressive bets.
Even more explosive: whales have started to buy.
Net inflow over 7 days surged by 22.8%, and over 30 days it skyrocketed more than 10 times; money is the most honest thing.
But the story isn't over — exchange reserves of ETH have increased by nearly 4%, sending out complex signals: is it preparing to sell? Or opening positions to hedge long? Everything is hidden in the “capital scheduling” behind it.
Right now, ETH is facing a strong resistance zone at $2,714, and the random RSI has surged to 79, with clear overbought signals.
If it breaks through here, it will embark on a new journey towards $3,000+; if it fails, a pullback to the $2,580 area wouldn't be surprising.
Shorts have already been squeezed: on May 23, shorts lost $17.88 million, indicating that bearish market positions are clearly shifting.
Is this wave of ETH the fuse for all altcoins to take off, or are institutions cutting your last profit?
What are you planning to do? Buy, short, or wait? Let's discuss in the comments!
