Ethereum has pushed back above $2,600, with $ETH trading around $2,630 on September 19 after a strong 6.7% daily move on September 18.
The breakout also came with heavier derivatives activity, as open interest remains around the $31B to $34B range across major venues.
Recent data puts ETH open interest at about $34.2B after reaching $33.6B earlier in the month, keeping leverage and trader positioning firmly in focus.
The next area traders are watching sits around $2,850 to $3,000, with ETH first needing to hold the reclaimed $2,600 region as support.
A sustained move above recent highs could bring those levels into focus, while elevated open interest means fresh positions are playing a larger role in the move.
#Ethereum #ETHBlockchain #Altcoin Season#
The breakout also came with heavier derivatives activity, as open interest remains around the $31B to $34B range across major venues.
Recent data puts ETH open interest at about $34.2B after reaching $33.6B earlier in the month, keeping leverage and trader positioning firmly in focus.
The next area traders are watching sits around $2,850 to $3,000, with ETH first needing to hold the reclaimed $2,600 region as support.
A sustained move above recent highs could bring those levels into focus, while elevated open interest means fresh positions are playing a larger role in the move.
#Ethereum #ETHBlockchain #Altcoin Season#
