🚀 $ETH Price Breaks 30-Day Range as Open Interest Hits $41B ATH

📈 Ethereum has broken out of its 30-day range, pushing above $2,800 for the first time since Feb 25. This move coincides with record-high open interest of $41B, pointing to increased speculative activity.

🟢 ETH had been trading between $2,400–$2,700 in a tight range. A strong breakout above the upper boundary now turns that level into support. If bulls hold above it, the next target is $3,070 (61.8% Fib), with $4,000 potentially on the horizon.

📊 Technicals support the move:
• 50-day SMA is above 150-day (bullish crossover in sight)
• RSI at 65 signals momentum but shows early signs of hesitation
• Daily volumes remain strong at $30B

💥 Open interest at $41B reflects a surge in leveraged positions. On Binance, 55% of traders are long, showing bullish bias. But beware: excessive longs can trigger long squeezes if the rally fails.

📉 If ETH dips back below the breakout level (~$2,680), momentum could fade. Otherwise, sustained accumulation could drive a rally past $3,000, and possibly beyond.

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