🔍 $ETH price breaks 30-day range as open interest hits $41B ATH

📈 Ethereum (ETH) has finally broken out of its 30-day consolidation between $2,400–$2,700, climbing above $2,800 for the first time since February. This bullish breakout is backed by $30B in daily trading volume and surging on-chain momentum.

📊 Open interest for ETH has now hit an all-time high of $41 billion, signaling growing speculative activity. A balanced long/short ratio suggests that traders are bracing for a major price move, with both squeeze scenarios on the table.

📉 Technicals show ETH flipped its consolidation resistance into support. If ETH holds above this zone, a rally toward $3,070 (61.8% Fib level) is likely. Above that, FOMO could drive price action toward $4,000.

⚙️ Momentum indicators are supportive: RSI is at 65 with room to grow, and the 50-day SMA is crossing above the 150-day. This confirms trend strength, though buyers appear to be waiting for a bullish SMA crossover.

📌 In summary, Ethereum’s breakout and $41B in open interest signal that a sustained uptrend could follow. The next key test? Holding $2,700 and breaking through $3,000.

⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.