Is an Ethereum Breakthrough Inevitable ?
The Ethereum open interest surged to a record level of $34.80 billion on June 18. This increase signals an aggressive stance by derivative traders and a peak in speculative interest.
Simultaneously, institutional inflows are accelerating : Ethereum saw over $500 million in net weekly inflows last week, a significant capital influx. Furthermore, whales are accumulating ETH massively, with a peak not seen since 2018.
Together, these elements demonstrate a growing conviction among market participants, both retail and institutional, strengthening the scenario for a sustained bullish breakthrough.
Deja Vu or Destiny ?
According to crypto analyst TedPillows, the current trajectory of Ethereum closely resembles that of Bitcoin between 2017 and 2021 : from an 85% drop to a 350% rise, followed by a sharp 62% correction.
If history is any guide, the true parabolic phase could be imminent – once Ethereum convincingly breaks the $4,000 resistance. Based on past patterns, this could mark the beginning of Ethereum’s “real bull cycle,” with the potential for a surge similar to Bitcoin’s meteoric rise of 1,190%.
Cautious Optimism Despite Strong Technical Indicators
At the time of writing, ETH is trading at $2,541, well above its 50-day and 200-day EMAs, indicating a bullish structure. The RSI stands at a neutral level of 50.20, allowing for further upside without entering overheated territory.
While the MACD remains in bearish territory, signs of convergence suggest a softening of downward pressure. Although the overall outlook favours a bullish breakthrough, short-term movements may remain limited until Ethereum decisively crosses the $2,700 mark with significant volume.
If Ethereum breaks this resistance, it could rise to $5,500 and beyond in the coming months, according to the 3-day MRC, with a significant intermediate resistance at $3,500.
How to Invest in Ethereum Easily with Bitget ?
Seize this opportunity with Bitget now :
- Create an account : Sign up with your email in a few clicks on the official website of Bitget.
- Verify your identity : Submit an ID document via KYC to activate trading.
- Deposit funds : Deposit dollars or cryptos like USDT.
- Buy ETH : Select the ETH/USDT pair, enter the amount, and confirm.
