Ethereum Price to Rally Toward $5,232 as Open Interest Hits ATH

The post Ethereum Price to Rally Toward $5,232 as Open Interest Hits ATH appeared first on Coinpedia Fintech News Ethereum (ETH) price retraced more than 15 percent in the past two weeks to trade at about $3,375 on Friday, December 27, during the early European session. As a result, the large-cap altcoin, with a total valuation of about $406 billion and a 24-hour average trading volume of around $23 billion, rebounded from a crucial support level. With the TOTAL2 having already retested the previous all-time high (ATH), around $1.6 trillion, Ethereum price is well positioned to rally towards $5k soon. Moreover, the ETH/BTC pair has been forming a macro reversal pattern, coupled with the bullish divergence on the weekly Relative Strength Index (RSI). Ethereum Whales Prepares for Major Uproar With Bitcoin price having outperformed the majority of large and mid-cap altcoins in the past two years, whale crypto investors have been repositioning their portfolios in preparation for a parabolic altseason. Moreover, the Ethereum’s Open Interest (OI) and volume recently surged to a new ATH of above $23 billion. According to on-chain data analysis provided by Coinglass, the overall supply of Ethereum on centralized exchanges declined from 16.12 million on November 29, to hover about 15.3 million at the time of this writing. The notable decline of Ethereum on CEXes is majorly attributed to the rising demand from the U.S. spot Ether ETF issuers. Led by BlackRock’s ETHA, and Fidelity’s FETH, the US spot Ether ETF issuers have attracted more than $2.64 billion in cumulative total net inflow since inception, thus a total assets under management of about $12.01 billion. On Thursday, the US spot Ether ETFs registered net cash inflows of about $117 million and a total value traded of around $390 million. Meanwhile, on-chain data analysis shows a while investors withdrew 1,500 Ether, worth $5.21 million, from Binance in the last 24 hours. Ethereum rebounds from crucial support, setting the stage for a potential rally. Read Ethereum price prediction for the latest market insights! What Next? From a technical analysis standpoint, Ethereum price has rebounded from a falling logarithmic trend, which formed year-to-date, thus signaling potential bullish uproar in the near term. Furthermore, Ethereum price has held above the weekly 50 Moving Average in the past two months. .article-inside-link { margin-left: 0 !important; border: 1px solid #0052CC4D; border-left: 0; border-right: 0; padding: 10px 0; text-align: left; } .entry ul.article-inside-link li { font-size: 14px; line-height: 21px; font-weight: 600; list-style-type: none; margin-bottom: 0; display: inline-block; } .entry ul.article-inside-link li:last-child { display: none; } Also Read : Bitcoin Price To Crash Hard To $60K! Experts Warn of Major Crash , As a result, Ether’s price is well positioned to reach $5,232 in the near term, which coincides with the 1.618 daily Fibonacci Extension . .article_register_shortcode { padding: 18px 24px; border-radius: 8px; display: flex; align-items: center; margin: 6px 0 22px; border: 1px solid #0052CC4D; background: linear-gradient(90deg, rgba(255, 255, 255, 0.1) 0%, rgba(0, 82, 204, 0.1) 100%); } .article_register_shortcode .media-body h5 { color: #000000; font-weight: 600; font-size: 20px; line-height: 22px; } .article_register_shortcode .media-body h5 span { color: #0052CC; } .article_register_shortcode .media-body p { font-weight: 400; font-size: 14px; line-height: 22px; color: #171717B2; margin-top: 4px; } .article_register_shortcode .media-body{ padding-right: 14px; } .article_register_shortcode .media-button a { float: right; } .article_register_shortcode .primary-button img{ vertical-align: middle; } @media (min-width: 581px) and (max-width: 991px) { .article_register_shortcode .media-body p { margin-bottom: 0; } } @media (max-width: 580px) { .article_register_shortcode { display: block; padding: 20px; } .article_register_shortcode img { max-width: 50px; } .article_register_shortcode .media-body h5 { font-size: 16px; } .article_register_shortcode .media-body { margin-left: 0px; } .article_register_shortcode .media-body p { font-size: 13px; line-height: 20px; margin-top: 6px; margin-bottom: 14px; } .article_register_shortcode .media-button a { float: unset; } .article_register_shortcode .secondary-button { margin-bottom: 0; } } Never Miss a Beat in the Crypto World! 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updateSubscriptionButton(); } } }); FAQs What will the price of Ethereum be in 2025? As per our Ethereum price prediction 2025, the ETH price could reach a maximum of $6,925. How high will the ETH price rise by the end of 2030? The largest altcoin’s price could propel to a maximum of $6,925 in 2025. ETH is expected to cross the $15,575 mark by 2030. What is the current ETH Price today? At press time, the Ethereum price trades at $3,383.96.