Ethereum (ETH) is trading near $3,350, experiencing an 10% increase on Thursday.
Ethereum price today: $3,350 Ethereum derivative traders have flipped bullish as ETH's open interest crossed the $20 billion mark. Ethereum blob space per block exceeded its limit of 3, indicating a potential price increase. Institutional investors may have flipped bearish on ETH after five consecutive trading days of net outflows. Ethereum 's quest for a 30% rally gained strength after it broke out of a week-long consolidation with an 10% rise.
If ETH sustains a firm close above this resistance, it could rally over 30% to $4,522. However, it has to overcome key resistance levels at $3,732 and $4,093 to complete such a move. ETH/USDT daily chart The recent rise comes after ETH consolidated near the $3,000 psychological level in the past seven days to validate the shoulder support of the inverted Head-and-Shoulders pattern.
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