Key points
- After a 6% weekend rally, Ether is trading above $3,600.
- Technical indicators are flashing bullish signals, suggesting the coin could move toward $3,900.
Robust derivatives market points to a bullish trend
The crypto market has started the week strongly, and that strength is visible in both the futures and options markets. Ethereum futures and options activity has surged, with aggregate open interest across exchanges jumping to roughly $40.11 billion, representing about 11.5 million ETH in total exposure.
Data from Coinglass shows Binance holding the largest share of open interest at $8.15 billion in daily volume among major exchanges, followed closely by CME at $7.57 billion.
Rising volumes indicate that more institutional participants are increasing their exposure to the Ethereum market.
The options market also tilts bullish: calls account for 65.05% of open interest while puts make up 34.95%. Call contracts represent roughly 2.1 million ETH, and puts about 1.13 million ETH. This skew toward calls suggests many traders anticipate a short-term price surge for Ether.
Traders expect Ether to test fresh all-time highs in the near term, and many forecast major altcoins to trade in higher ranges by year-end. At the time of writing, ETH is trading above $3,600 per coin.
Technical indicators turn bullish as ETH eyes $3,900
The ETH/USD four‑hour chart has shifted from a bearish posture to a more constructive one over the past few days. Technical signals on the 4‑hour timeframe are now bullish, reflecting a buying bias in the short term.
An RSI reading near 63 indicates buyers currently control momentum; if the bullish bias persists, Ether could soon enter overbought territory. The MACD line is also in positive territory, reinforcing the bullish outlook.
If this recovery continues, ETH could push toward the next major resistance at $3,910 within hours or days. A prolonged advance could see the coin reach the higher resistance area around $4,271.
Conversely, if the market faces a pullback, ETH could lose momentum and fall toward Friday’s low near $3,197.