$ETH As of January 28, 2025, Ethereum (ETH) is trading at approximately $3,191.09, reflecting an increase of $119.03 (0.03875%) from the previous close. The day's trading range has seen a high of $3,221.19 and a low of $3,069.69.

In recent weeks, ETH has demonstrated significant bullish momentum, achieving its highest weekly close since April 2022. This upward trajectory has been supported by a breakout from a long-term horizontal resistance area and a parallel channel pattern, indicating potential for continued gains.

However, on-chain metrics present a mixed outlook. A decline in Ethereum's Open Interest (OI) from $14.50 billion to $13.94 billion suggests reduced market exposure and possible bearish pressure. Additionally, increased inflows to exchanges indicate heightened selling pressure, which could limit short-term price growth.

Technical indicators, such as the Parabolic Stop-and-Reverse (SAR), currently position above ETH's price, signaling resistance. If ETH remains below this indicator, a potential decline toward $3,315 is possible. Conversely, a resurgence in OI and decreased exchange inflows could pave the way for a rally toward $4,500 or even new all-time highs