Compass Investments

– Ether holds above $3,500, confirming the continuation of the bullish trend after an impressive 70% rise since late June. Open interest has hit an all-time high of $50B, indicating increased speculation and activity from major players in the ETH market.

the next resistance level is around $3,742, and a strong breakout could open the way to $4K-$4.2K in the near term.

Ether is still holding above $3,500, a level it reclaimed at the end of last week, and to be honest, it’s more optimistic than it has been lately. ETH has jumped over 70% since the end of June, and it looks like we’ve entered a whole new phase. The situation has changed, no doubt about it. The bulls are in the game, and they are not timid.

What’s next? Traders are excited. Open interest in Ethereum just hit a record high, according to CryptoQuant. This is a significant event. It usually means more money coming into the market, especially in derivatives, and such a build-up often hints that something big is coming, whether it’s a rise or a fall. But given ETH’s growth and the compelling technicals, the odds are leaning toward a bull market.

So yes, if the bulls hold the asset above $3,500, we could see the beginning of the next upswing. Of course, nothing is guaranteed. But if this momentum continues, the next week or so could be very interesting.

According to analyst Ted Pillows (yes, that’s really his name), open interest in Ethereum just surpassed a record $50 billion. That’s impressive. Buckle up and enjoy the Ethereum ride, he wrote in X, and it’s hard to disagree.

High open interest means the big players are betting. It could be a breakthrough, it could be a correction….. but judging by the current situation – macro trends, strong network growth, regulatory clarity – it seems like the bulls have the upper hand this time.

In addition, ETH network metrics are fine. We’re seeing more active wallets, stronger validator activity, and Layer 2 gaining momentum. And with the GENIUS Act now giving some regulatory shape to things like stablecoins, ETH will benefit greatly – after all, it’s still the backbone of DeFi.

If you look at the broader scale, ETH just confirmed a breakout above $3,500, closing at $3,588.26 on the 3-day chart. It’s up 70% in a month. It has broken above its major moving averages of 50, 100, and 200, which gives the move some weight. It’s not just a hope for retail investors, it’s a technical confirmation.

volumes are also rising. So this is not a weak breakout. What’s next? The resistance zone is at $3,742.95. This is the level where ETH stopped earlier this year. If the bulls break this ceiling, we could see a retest of the $4K-$4.2K range. That’s a big if, but it’s likely.

if ETH goes down? Watch $2,852.16. This was previously a consolidation zone and a starting point, and it also coincides with the 200 SMA. A loss of this level could put an end to the bullish sentiment.