Over the past week, $ETH has once again become the focus of the market. The price has steadily climbed from $2,343 to around $2,520. Over the 7 days, the cumulative gain reached 7.57%. The high was $2,566.4, while the low dipped to $2,306.02. This is not a sudden impulse surge, but a stepped advance with clear evidence of capital absorption. The current price is back at the 82.4% high of the 7-day range, just one step away from the range high.
Key milestones in this week’s trading occurred on August 21 and August 24. On August 21, the price broke through the $2,400 mark on increased volume. At one point, the成交额 (trading value) for a single 4-hour candlestick surged to 6.04B. Afterwards, a quick washout was completed between $2,384 and $2,549. On August 24 midday, volume expanded again to 5.06B, pushing the price back above $2,500. In the most recent 24 hours, trading value reached 11.98B—up 50.82% versus the previous day’s 7.94B. Volume and price have shown good alignment; this is not a low-volume fake rally.
In terms of positioning, open interest rose from 5.52B at the start of the week to the current 6.11B, an accumulated increase of 10.71%. Price and open interest have moved up in sync, which is typical of a long-position adding-driven move. Notably, even though the price is at a high level, funding rates are not crowded. The current rate is only 0.0011%, far below the 7-day average of 0.009%, indicating that leveraged longs have not built up excessively. Market sentiment appears relatively restrained, which leaves room for the next phase of the move.
From the order-flow structure, $2,566.4 is the most immediate resistance level. When it was touched during intraday trading on August 27, the price subsequently pulled back and finally closed at $2,520.58. For support, look around $2,481–$2,485. If the price retraces into that zone and open interest does not rapidly shrink—staying near 6.1B—the overall structure is still tilted bullish. Open interest briefly spiked to 6.24B during August 27 intraday, then retreated back to 6.11B; pay attention to how open interest changes after the peak.
In the next 24 to 72 hours, there are two core points to watch: first, whether price can again break through $2,566.4 on rising volume—if it holds effectively above that level, it could open new upside space. Second, the direction of open interest after the 6.24B peak: if price stalls while open interest drops quickly, it would signal that divergence at high levels is intensifying. The currently low funding rate suggests longs still have room to add, but if funding rates rise quickly afterward, expect volatility as crowdedness warms up again. Overall, $ETH is in a structure where trend continuation and high-level consolidation coexist; the strongest support logic right now is the alignment between volume and price.
Complete abnormal movement data: perppulse.xyz
Key milestones in this week’s trading occurred on August 21 and August 24. On August 21, the price broke through the $2,400 mark on increased volume. At one point, the成交额 (trading value) for a single 4-hour candlestick surged to 6.04B. Afterwards, a quick washout was completed between $2,384 and $2,549. On August 24 midday, volume expanded again to 5.06B, pushing the price back above $2,500. In the most recent 24 hours, trading value reached 11.98B—up 50.82% versus the previous day’s 7.94B. Volume and price have shown good alignment; this is not a low-volume fake rally.
In terms of positioning, open interest rose from 5.52B at the start of the week to the current 6.11B, an accumulated increase of 10.71%. Price and open interest have moved up in sync, which is typical of a long-position adding-driven move. Notably, even though the price is at a high level, funding rates are not crowded. The current rate is only 0.0011%, far below the 7-day average of 0.009%, indicating that leveraged longs have not built up excessively. Market sentiment appears relatively restrained, which leaves room for the next phase of the move.
From the order-flow structure, $2,566.4 is the most immediate resistance level. When it was touched during intraday trading on August 27, the price subsequently pulled back and finally closed at $2,520.58. For support, look around $2,481–$2,485. If the price retraces into that zone and open interest does not rapidly shrink—staying near 6.1B—the overall structure is still tilted bullish. Open interest briefly spiked to 6.24B during August 27 intraday, then retreated back to 6.11B; pay attention to how open interest changes after the peak.
In the next 24 to 72 hours, there are two core points to watch: first, whether price can again break through $2,566.4 on rising volume—if it holds effectively above that level, it could open new upside space. Second, the direction of open interest after the 6.24B peak: if price stalls while open interest drops quickly, it would signal that divergence at high levels is intensifying. The currently low funding rate suggests longs still have room to add, but if funding rates rise quickly afterward, expect volatility as crowdedness warms up again. Overall, $ETH is in a structure where trend continuation and high-level consolidation coexist; the strongest support logic right now is the alignment between volume and price.
Complete abnormal movement data: perppulse.xyz
