Ethereum’s recent surge is driven by record spot volume and rising ETH derivatives open interest, with bulls holding roughly 70% of leveraged positions; the $4,500–$5,000 band is critical resistance while immediate support sits near $4,080 and deeper protection at $3,620–$3,000.
High derivatives open interest is intensifying ETH price sensitivity to leverage moves
Spot volume above $80 billion signals broad trading participation and accumulation
Binance accounts for over $10.08B of ETH open interest, highlighting whale concentration
Ethereum open interest and resistance: ETH derivatives surge and a $4,500–$5,000 breakout could trigger the next leg. Learn key levels and signals. Read now.
What is driving Ethereum open interest and price action?
Ethereum open interest has surged alongside spot volume, increasing market sensitivity to leveraged flows and concentration of positions on major venues. Elevated derivatives exposure means breakouts above the $4,500–$5,000 range could spark rapid moves, while support levels near $4,080, $3,620 and $3,000 remain critical.
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Ethereum reinforced strong buyer interest after rebounding near $4,280 following a pullback from ~ $4,800. Spot volume exceeded $80 billion in the last 24 hours, showing both accumulation and speculative trading. The dominant resistance cluster is between $4,500 and $4,800, with a psychological hurdle at $5,000.
Derivatives positioning is skewed bullish: nearly 70% of reported leveraged positions are long. Futures open interest rose by +1.42% over the past day even as perpetual basis softened, suggesting fresh directional bets amid high volume. Exchange-aggregated figures show Binance holding over $10.08 billion of ETH open interest, indicating concentrated whale activity.
High spot volume confirms demand and liquidity; derivatives open interest amplifies directional risk. When open interest is elevated, leveraged long or short liquidations can accelerate price moves. Monitoring the ratio of long to short positions and where open interest clusters (exchange-by-exchange) helps anticipate potential volatility.
Immediate support aligns with the 20-day moving average near $4,080. Deeper protection lies around $3,620 and $3,000. If selling pressure intensifies, these levels could act as accumulation zones for longer-term holders and spot buyers.
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Source: https://en.coinotag.com/ethereum-may-test-5000-as-elevated-volume-and-291b-derivatives-open-interest-face-4500-4800-resistance/