ETH/USDC is trading at 2,616.90, showing a solid 3.08% increase as buying pressure intensifies. Technical indicators reveal strong bullish momentum, with the RSI at 90.41—deep into overbought territory—while the Stochastic RSI has maxed out at 100. The MACD is strongly positive at 151.28, showing growing bullish divergence, and the Bollinger Bands are expanding, suggesting increasing volatility.
Open interest has seen a slight decline, but the long/short ratio among top traders has tilted significantly in favor of longs, reaching 2.72. This shift reflects growing optimism, but the crowded long positions introduce the risk of a liquidation cascade if the price retraces sharply. The taker buy/sell volume shows active buying dominance, with green bars consistently outpacing red, signaling aggressive long entries.
The price’s recent upward momentum aligns with Ethereum’s Trillion Dollar Security Initiative, which has boosted market sentiment. The initiative’s focus on long-term security and scalability has bolstered confidence among traders and investors. However, the extreme overbought conditions warn of a potential short-term correction. A break below 2,550 could trigger a sell-off, while sustained buying could push ETH towards 2,700.
