Will ETH Surge After Futures Hit $20B High?

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Ether futures data shows momentum, with ETH price more than doubling since April lows, increasing the chance of a rally to $4,000 in the coming weeks.

Ether’s price has rallied 108% to $2,880 since April 9. 

ETH futures open interest hit all-time highs of $20 billion, signaling bullish sentiment.

Ether’s bullish cup-and-handle pattern targets $4,200.

Ether price gained 108% between April 9 and Wednesday, reaching $2,880 for the first time since Feb. 8. This significantly outperformed the broader cryptocurrency market, which rose by 49% during the same period.

Ether futures open interest rose to its highest level on Thursday, leading traders to speculate whether ETH price might also rally to new all-time highs.

Ether futures show ETH traders are bullish
ETH futures open interest (OI) (cash-margined) hit a new all-time high of over $20 billion on Thursday, up 155% since April 9, as per data from Glassnode.


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