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Ethereum is trading below $1,700 as the market faces a key test that will determine whether the current level holds as support or gives way to further deterioration. The price has already dropped approximately 28% from recent levels — and a CryptoQuant analyst has identified a development in the derivatives data that places the current weakness in a structural context that extends well beyond short-term price action.

The most significant signal is not the price decline itself but the way Open Interest has reset across major exchanges during the decline. The derivatives positioning that accumulated throughout 2025 and into 2026 is unwinding — and the scale of that unwind has now returned multiple venues to levels last seen in April 2025, effectively erasing more than a year of leveraged exposure in a compressed timeframe.

On Gate.io, ETH Open Interest has fallen from $4.84 billion on May 7 to $2.68 billion on June 9 — a reduction of approximately $2.16 billion, or roughly 45%, in just over one month. The current reading almost exactly matches the $2.67 billion recorded on April 11, 2025. Bybit shows an identical pattern, with Open Interest near $805 million — virtually matching the $795 million level from April 9, 2025.

Two major exchanges have returned to April 2025 market structure simultaneously. The leverage built across the entire subsequent period has been cleared. Binance funding rates turning negative confirm that the remaining futures activity is not expressing bullish conviction — it is expressing uncertainty at best and mild bearish bias at worst.

The Funding Tells the Real Story

The CryptoQuant analysis identifies the asymmetry between venues as the detail that prevents the Open Interest reset from being read as a clean structural clearing. Gate.io and Bybit have both returned to April 2025 levels — the leverage accumulated across more than a year of market activity was erased in weeks. Binance has not followed the same path. ETH Open Interest on Binance remains around $2.76 billion, staying close to its higher range, while the other major venues have contracted sharply around it.

The retained Binance positioning does not automatically signal bullish intent to remain in the market. The funding rate tells a more accurate story. At approximately -0.0038, Binance funding has turned negative again — traders are not paying a premium to hold long exposure. The Open Interest is present, but the conviction behind it has shifted from directional to defensive.

Ethereum Funding Rates Binance | Source: CryptoQuant

That combination creates the specific market message the report identifies. The derivatives reset is real but uneven — some exchanges have cleared their leverage fully while Binance retains positioning under a funding backdrop that reflects caution rather than confidence. Negative funding during a price decline describes one of three conditions: defensive positioning from participants hedging existing exposure, short pressure from traders betting against recovery, or simply the absence of aggressive long conviction from participants who might otherwise be paying to hold bullish exposure.

None of those three conditions describes a market preparing to rally. Together, they describe a derivatives structure that has partially reset while the most important venue holds residual positioning without the directional commitment that would make that positioning constructive.

Ethereum consolidates below $1,700 level | Source: ETHUSDT chart on TradingView

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Ethereum has lost more than 12% of its value over the past ten days as selling pressure has overwhelmed the recovery that briefly carried the asset toward $2,400. The decline has been sustained and consistent — not a single sharp event but a series of lower highs and lower lows that have eroded the confidence built during weeks of cautious recovery. Against that backdrop, an Arab Chain analysis tracking Binance derivatives activity has identified a signal that introduces a layer of complexity into the straightforwardly bearish reading the price action currently suggests.

Ethereum’s open interest on Binance has climbed to approximately $5.5 billion — above the 30-day average of approximately $5.34 billion — as the price stabilizes near $2,110. The Z-Score measuring the deviation of current open interest from its recent historical norm has risen to approximately 0.62, reflecting a noticeable increase in speculative activity relative to the baseline that defined the past several weeks of derivatives market behavior.

The timing of that return creates the analytical tension the Arab Chain report examines. Speculative activity returning to Ethereum’s derivatives market while the price is losing ground is not the setup that straightforward bearish momentum describes. Momentum-driven declines typically see derivatives activity collapse alongside price — participants reducing exposure, leverage falling, open interest contracting.

The data is showing something different. And what it is showing at $2,110 may be the most important signal Ethereum’s derivatives market has produced since the selling pressure began.

Derivatives Are Waking Up While the Price Holds $2,000

The Arab Chain report traces the open interest recovery to its starting point to give the current reading its full context. ETH derivatives activity on Binance has been gradually rising since March — a sustained, directional trend that has developed alongside the price recovery from the February lows and the gradual return of liquidity to the market. The current reading above the 30-day average is not an abrupt spike but the continuation of a trend that has been building for months.

Binance: ETH Open Interest Z-Score | Source: CryptoQuant

The Z-Score at 0.62 sits in moderate territory — above the baseline that characterized the weakest activity periods of recent months but well below the elevated readings that historically signal excessive speculation or overcrowded positioning. That positioning on the spectrum matters. A market with moderate and improving derivatives activity is structurally different from one where open interest is spiking aggressively — the former describes rebuilding participation, the latter describes the kind of excess that precedes liquidation cascades.

The forward implication the report identifies is conditional in both directions. Rising open interest alongside price stability above $2,000 suggests new positions are being established — participants expressing directional conviction rather than simply maintaining existing exposure. When that dynamic develops alongside genuine spot market inflows, it tends to precede stronger and more sustained price movements as derivatives and spot demand reinforce each other.

The risk the analysis preserves is equally specific. Leverage rebuilding without corresponding spot market strength creates fragility rather than foundation — a derivatives structure that amplifies whatever move arrives next without the underlying demand to give that move durability. The Z-Score at 0.62 does not yet indicate that fragility. Whether it develops in that direction or resolves constructively depends on whether the spot demand that the derivatives activity is anticipating actually arrives.

Ethereum consolidates below the $2,150 level | Source: ETHUSDT Chart on TradingView 

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Data shows the Estimated Leverage Ratio has seen a sharp decline for Ethereum on Binance, a sign that traders have been pulling back on risk.

Ethereum Leverage Ratio Has Dropped To A Value Of 0.57

As pointed out by an analyst in a CryptoQuant Quicktake post, speculative activity in the Binance Ethereum derivatives market has observed a cooldown recently. The indicator of relevance here is the “Estimated Leverage Ratio” (ELR), which tracks the ratio between the ETH Open Interest and Derivatives Exchange Reserve.

The former metric, the Open Interest, measures the total amount of positions related to the cryptocurrency that are currently open on a given centralized derivatives exchange. Meanwhile, the latter is the amount of the asset sitting in wallets connected to that platform. Since the ELR takes the ratio of the two, it essentially tells us about how much leverage investors are opting for against the average position.

When the value of the indicator is high, it means the Open Interest is significant compared to the Exchange Reserve. Such a trend suggests the average trader on the exchange is opting for a high amount of risk. On the other hand, the metric being low implies investors aren’t taking on much leverage on their positions, a potential sign that market interest in speculative activity is low.

Now, here is a chart that shows the trend in the Ethereum ELR for Binance over the last few months:

The value of the metric seems to have plunged over the last few weeks | Source: CryptoQuant

As displayed in the above graph, the Ethereum ELR for Binance surged to a high level back in March. This uptick in leverage usage coincided with a recovery run in the cryptocurrency. The rally failed to sustain, and with it, speculation also noted a cooldown. In April, the market again made a recovery, and while investors took some risks initially, the ELR interestingly ended up following an overall downtrend. This means that this new surge hasn’t been able to attract the more speculative traders to the cryptocurrency.

Today, the ELR is sitting at a value of 0.57, implying that the Open Interest is 57% of the Binance derivatives reserve. For comparison, the metric peaked at 0.76 back in March. While the decline in the indicator does signal that investors have become more risk-averse, it may not entirely be a bad sign for Ethereum. In the past, periods with extreme leverage usage in the derivatives market have often unwound with volatility.

Given that the ELR has calmed down recently, it’s possible that the market could show some stability in the near future. That said, it only remains to be seen how the metric will develop in the coming days.

ETH Price

At the time of writing, Ethereum is trading around $2,330, unchanged from one week ago.

Looks like the price of the coin has been consolidating recently | Source: ETHUSDT on TradingView

Featured image from Dall-E, chart from TradingView.com

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On-chain data shows Bitcoin’s latest price move to $80,000 has not been based off of spot demand alone. A new trend of derivatives activity is building under the market, with open interest across major exchanges recording its strongest increase of 2026 and even surpassing the rise seen during Bitcoin’s 2025 all-time high formation.

However, technical analysis shows that the real test for a bullish reversal still lies ahead.

Bitcoin Open Interest Posts Biggest Increase Of 2026

CryptoQuant data, which was first revealed by crypto analyst Darkfost, shows that Bitcoin open interest has just posted its largest 30-day increase since the beginning of 2026, which is a reflection of many traders entering the Bitcoin futures markets.

The move comes even though funding rates have stayed broadly negative for several weeks, meaning the rally is not being supported by a clean one-sided bullish funding environment. Instead, it shows investors are rebuilding exposure through leverage while sentiment is still cautious.

This is important because the increase is already larger than the one recorded during Bitcoin’s previous all-time-high formation in 2025.

Bitcoin Open Interest By Exchange: @Darkfost_Coc On X

As shown in the chart image above, the return of derivatives capital is not isolated to one crypto exchange. Binance, the world’s leading cryptocurrency exchange by trading volume, accounts for roughly 34% of total market share, with an average monthly Open Interest of approximately $2.5 billion as of May 5.

A similar trend can also be observed across other exchanges, notably Gate.io with $1.75 billion and Bybit with $1.15 billion. Darkfost, who identified the data, described the environment as a sharp contrast to conditions in the first few months of the year, noting that optimism is gradually returning and encouraging traders to increase their risk exposure over different crypto exchanges.

The Level That Could Decide Bitcoin’s Next Trend

Bitcoin is now back to trading around $80,000 for the first time since late January 2026, helped by stronger risk appetite and increased leverage, alongside an increase in ETF demand. While this bullish momentum is building, on-chain data from CryptoQuant’s Realized Price – UTXO Age Bands metric is pointing to a price level that will determine whether the current recovery is structural or temporary. 

The next major level from CryptoQuant’s UTXO age-band data sits around $88,000, based on the 3-to-6 month realized price cluster. Bitcoin has already reclaimed the short-term cost holder basis. At the time of writing, the 1-week to 1-month cluster is around $76,157, the 1-month to 3-month cluster is around $68,891, and the 3-month to 6-month cluster is around $88,231.

Realized Price – UTXO Age Bands. Source: CryptoQuant

This places $88,000 as the price level to watch in May in order to confirm a complete bullish reversal. A clean move above $88,000 would mean Bitcoin has climbed above the cost basis of all major short-term cohorts, and that would be the real signal of a trend reversal.

Featured image from Shopify, chart from TradingView

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The current consolidation of Bitcoin is showing signs of a deeper shift rather than a typical range-bound market. While price action appears relatively stable within a defined range, leverage behavior tells a very different story. Instead of a clear directional bias, the leverage delta has repeatedly flipped between positive and negative, indicating a lack of conviction among large market participants.

How Bitcoin Market Structure Is Sending Mixed Signals

There’s a critical shift unfolding in the current Bitcoin range, one that sets it apart from the previous consolidation phase. Analyst Ardi highlighted on X that in August and December, the leverage delta was one-sided. It remained consistently negative, showing that short leverage positioning dominated as the market trended downward. Meanwhile, the smart money knew the direction and positioned with conviction.

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BTC has been in the right range since January, and the leverage delta has been flipping repeatedly between positive and negative. Ardi noted that this level of back-and-forth hasn’t been seen at any other point in a single consolidation period throughout the cycle. Such behaviour is not characteristic of a clean trend; instead, it occurs when the participant’s trading size genuinely lacks direction, causing them to continue repositioning. 

One week they lean long, the next week they shift short. Even the current delta sits slightly negative at around 0.408, showing marginally short-side dominance, but the pattern is the story, not the current reading.

In the past, when the previous range had a clear delta bias, the market followed its pattern. However, this range has no sustained bias, which means no individual with size has conviction. When the resolution of this range finally comes, it’s likely to be violent because no one is truly prepared for it.

What A Daily Close Above Resistance Could Signal For BTC

Bitcoin is approaching a critical inflection point following a sharp news-driven rally. According to a crypto trader known as Max Trades on X, after President Donald Trump announced the ceasefire deal, BTC price surged roughly 7%. This move has pushed BTC to test the top of its current range, an area that now represents a critical decision point for the market.

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Max explained that if BTC can secure a confirmed breakout with a daily close above the range highs, it could open the door for a continuation move toward the $76,000 level. However, failure to hold above this level, followed by acceptance below the resistance, would suggest that the BTC price remains stuck in its broader consolidation.

Also, he cautions against placing too much confidence in the recent move rally, noting that news-driven pumps often get retraced quickly. With BTC still sitting at a strong resistance level and an unfilled CME gap lingering below around $67,000, there are still solid reasons to consider a bearish scenario.

Featured image from Pixabay, chart from Tradingview.com

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Ethereum has reclaimed the $2,300 level as renewed buying activity begins to push the market higher after months of persistent downward pressure. The move marks a notable shift in short-term sentiment, with traders increasingly pointing to growing bullish momentum across the broader cryptocurrency sector.

Over the past seven days, Bitcoin has climbed approximately 8.6%, reinforcing the perception that the market may be transitioning out of the corrective phase that dominated recent months.

Ethereum, which often behaves as a higher-beta asset within the crypto ecosystem, has responded even more aggressively to the improving sentiment. Over the same period, ETH has surged roughly 13.9%, outperforming Bitcoin and signaling stronger speculative demand from traders.

Analysts note that the move higher is also being supported by strong inflows into crypto-related exchange-traded funds, reflecting continued institutional appetite for digital assets. As liquidity begins to return and risk tolerance improves, Ethereum’s ability to reclaim the $2,300 level is now being closely monitored as a potential pivot point that could determine whether the recovery can extend further in the coming weeks.

Ethereum Leverage Recovers After Historic Liquidation Reset

A recent analysis from CryptoQuant highlights how the Ethereum derivatives market has undergone a significant structural reset following the dramatic liquidation event that occurred on October 10. According to the report, the flash crash triggered one of the largest deleveraging events in the history of the cryptocurrency market.

During that event, the Ethereum Estimated Leverage Ratio (ELR) on Binance dropped sharply from 0.56 to 0.41, representing a 27% contraction in market leverage. The “10/10” event is now widely recognized as the largest 24-hour liquidation cascade in crypto history, with more than $19 billion in leveraged positions forcibly liquidated across the market.

Since that reset, leverage levels have gradually rebuilt as confidence returned. The report notes that Ethereum’s ELR has climbed to approximately 0.69 in mid-March, signaling that traders are once again increasing their use of leverage as sentiment improves.

The Estimated Leverage Ratio is calculated by dividing open interest by the amount of ETH reserves held on exchanges. In practical terms, it measures how aggressively traders are using leverage relative to the collateral available in the system.

Higher ELR readings typically indicate growing risk appetite and increased speculative positioning, which can amplify both upward price momentum and market volatility.

As sentiment improves, Ethereum and Bitcoin continue to act as high-beta risk-on assets, while more defensive investors may rotate toward tokenized gold instruments such as PAXG and XAUT.

Ethereum Attempts Trend Reversal After February Capitulation

The Ethereum chart shows the asset attempting to build bullish momentum after a prolonged corrective phase that dominated the market since late 2025. On the daily timeframe, ETH is currently trading around $2,310, following a strong rebound from the sharp selloff that occurred in early February.

That decline pushed Ethereum toward the $1,800 region, where a clear spike in volume indicates a capitulation event and aggressive buyer absorption. Since that low formed, price action has gradually stabilized, with Ethereum constructing a higher base between $1,900 and $2,100 before initiating the current upward move.

Technically, ETH has now reclaimed the short-term moving average, which had acted as dynamic resistance throughout the downtrend. This development suggests that short-term momentum is shifting back in favor of buyers. However, the broader market structure remains cautious, as price still trades below the longer-term 100- and 200-day moving averages, which continue to slope downward.

The $2,300–$2,400 zone now represents a critical resistance region. This level previously acted as support before the February breakdown and is likely to attract significant sell-side liquidity.

If Ethereum manages to consolidate above $2,300, it could open the door for a continuation toward $2,600 and $2,900, where the next major technical barriers and moving averages converge.

Featured image from ChatGPT, chart from TradingView.com 

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Ethereum has reclaimed the $2,000 level after several weeks of volatile price action, offering the market a brief period of relief following sustained selling pressure across the broader crypto sector. The recovery comes as derivatives activity begins to normalize, suggesting that leverage levels may be stabilizing after months of structural shifts in the Ethereum futures market.

A recent report from CryptoQuant analyst Arab Chain highlights notable developments in Ethereum’s derivatives positioning. Data from the ETH Open Interest Z-Score (30-day rolling) on Binance shows meaningful changes in market structure in recent months, particularly in how traders deploy leverage.

According to the latest reading, total open interest in Ethereum contracts on Binance has reached approximately $4.26 billion, while the 30-day moving average stands near $4.18 billion. Over the same period, the standard deviation measures roughly $285.8 million.

These figures place the Z-Score around 0.29, a moderate reading that indicates open interest currently sits close to its historical average. In practical terms, the data suggests that the market is not experiencing extreme leverage conditions.

Ethereum Derivatives Market Shows Signs of Structural Reset

The report also highlights a deeper shift unfolding in Ethereum’s derivatives market. One of the most notable signals appears in the 30-day moving average of open interest, which has declined to its lowest level since May 2025. While the headline number may look modest, the trend behind it reveals an important structural adjustment in market positioning.’

Falling open interest generally indicates that traders are closing positions faster than new ones are opening. In Ethereum’s case, the gradual decline suggests that leverage has steadily drained from the market over recent months rather than collapsing in a single liquidation event. This process often follows extended periods of volatility, when traders reduce exposure and risk appetite fades across derivatives platforms.

The change also points to a potential shift in market composition. When speculative liquidity exits futures markets, activity tends to move toward spot accumulation or lower-risk strategies. That dynamic can temporarily suppress momentum but often leaves the market structurally healthier.

In practical terms, Ethereum’s derivatives market now appears less crowded and less dependent on leveraged positioning. Historically, such resets tend to occur near transitional phases in market cycles. If new liquidity enters the market and risk appetite returns, the current reduction in leverage could provide a cleaner foundation for the next expansion in derivatives activity.

Ethereum Price Tests Critical Support After Sharp Correction

Ethereum currently trades near the $2,050 level after a sharp correction that followed the late-2025 rally. The weekly chart shows ETH recovering modestly after briefly dropping below the psychological $2,000 mark, a level that has historically acted as an important support and resistance zone during previous market cycles.

The broader structure suggests that Ethereum remains in a corrective phase after peaking near the $4,800 region in 2025. Since that high, the market has printed a sequence of lower highs and declining momentum, reflecting a shift in market sentiment as macro conditions and crypto liquidity tightened.

Technically, ETH now sits below the 50-week and 100-week moving averages, which currently act as overhead resistance in the $2,800–$3,000 range. The 200-week moving average near $2,450 also represents a key structural level that the market recently lost during the sell-off. Losing that long-term support accelerated downside volatility and triggered the high-volume capitulation visible on the chart.

Despite the bearish pressure, the recent bounce near $1,900 suggests buyers are defending the lower range of the current structure. If Ethereum manages to reclaim the 200-week moving average, the market could attempt a broader recovery toward the $2,800 resistance zone.

Featured image from ChatGPT, chart from TradingView.com 

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Ethereum has retraced below the $3,200 level following the Federal Reserve’s decision to cut interest rates by 25 basis points, a move that initially boosted risk assets but quickly shifted market sentiment into uncertainty. While the broader macro backdrop now leans toward looser monetary conditions, Ethereum’s reaction suggests that traders remain cautious, especially after the sharp rally from the $2,800 region earlier this month.

According to fresh data from CryptoQuant, Binance’s Ethereum Estimated Leverage Ratio has climbed to an all-time high of nearly 0.579. This signals that the ETH market has entered a highly sensitive and potentially unstable phase, as open leveraged positions have grown faster than the underlying spot holdings on the exchange. Such extreme leverage typically reflects heightened risk appetite—and often precedes periods of sharp volatility.

This dynamic implies that a large portion of Ethereum’s recent price action has been driven not by organic demand, but by leveraged speculation. With funding structures stretched and traders aggressively positioning for upside, even a modest price swing could trigger a cascade of liquidations, amplifying market movements in either direction. As Ethereum hovers near key support, the combination of elevated leverage and post-FED uncertainty sets the stage for a volatile and decisive period ahead.

Ethereum’s Leverage Structure Signals Growing Fragility

Arab Chain explains that Ethereum’s historically high leverage ratio indicates a structural imbalance in the market. When the volume of open contracts funded by leverage grows faster than the actual spot ETH held on the platform, the entire ecosystem becomes more sensitive to abrupt volatility.

In such conditions, traders face a heightened risk of liquidation from even moderate price swings—whether the move is upward or downward. Historically, peaks in this indicator have aligned with periods of intense price pressure, as excessive leverage magnifies the market’s reaction to relatively small shifts in demand or sentiment.

At the same time, Ethereum is currently trading near $3,300, creating a concerning confluence: rising prices supported not by strong inflows or genuine spot demand, but by leverage-driven speculation. This type of rally is inherently unstable. If leverage continues climbing at these extreme levels, the market becomes increasingly vulnerable to a sharp liquidation-driven sell-off should prices pull back.

However, there is an alternative path. If ETH’s price continues to build momentum while the leverage ratio cools slightly, the market could regain a healthier structure—providing a more durable foundation for a sustained upward trend. For now, the estimated leverage ratio remains one of the most critical indicators for evaluating Ethereum’s short-term direction.

ETH Price Action Details

Ethereum’s latest rejection near the $3,350–$3,400 zone highlights the challenges bulls face as the broader trend remains pressured. The chart shows ETH pulling back toward the $3,200 area after a sharp attempt to break above the 100-day moving average (red line). This level continues to act as a major dynamic resistance, repeatedly capping upside momentum throughout November and December.

Despite the recent recovery from sub-$2,900 lows, ETH has not yet reclaimed the 50-day moving average (blue line) with conviction. The inability to close decisively above it reinforces the idea that this bounce remains corrective rather than impulsive. Meanwhile, volume on the latest push upward has been modest, suggesting that buyers are not entering aggressively at these levels.

On the downside, the $3,050–$3,100 region is emerging as short-term support. A daily close below this zone could open a path back toward $2,900, especially if risk sentiment deteriorates post-FOMC. Conversely, reclaiming and holding above $3,350 would be the first sign of renewed bullish strength, potentially targeting $3,550 next.

Featured image from ChatGPT, chart from TradingView.com

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BitDigital (NASDAQ: BTBT) is breaking new ground in finance, becoming the first publicly traded Ethereum DAT to deploy unsecured leverage. The move is an evolution in how public blockchain companies raise capital, blending traditional debt instruments with decentralized infrastructure models. 

Why This Move Redefines Capital Formation For Ethereum DATs

In an X post, BitDigital_BTBT revealed that the company has made history as the first publicly traded Ethereum Digital Asset Treasury (DAT) to deploy unsecured leverage through a convertible notes offering, marking a new milestone in blockchain-based corporate finance. The latest move by the financial behemoth will be beneficial to the company shareholders. 

However, this initiative will enhance capital efficiency for shareholders, without immediate dilution notes due in October 2030. The proceeds will be used to acquire ETH, expand BitDigital’s treasury, and increase institutional staking capacity.

This strategic financing deepens BitDigital’s exposure to ETH, while positioning the asset as a programmable treasury instrument capable of generating institution-grade staking yield. By leveraging traditional debt structures within a decentralized framework, BitDigital reinforces its leadership in ETH-native treasury management and staking strategies. The move also signals ETH’s advanced role in institutional finance, bridging the gap between Web3 infrastructure and legacy capital markets.

Amid the growing exposure to Ethereum, multiple potential projects are being consistently launched on the leading chain. Kriptoloji, an ambassador at Irys_xyz, points out that their restaking design project’s focus isn’t on flashy incentive yields, but on building genuine utility and layering right on top of ETH’s ecosystem. Kriptoloji noted that most projects in DeFi tend to chase the same hype cycles and loops, but Ekoxofficial is building something different with this move. Instead of creating another yield, it aims to make network participation more seamless, efficient, and sustainable.

Meanwhile, the early indicators suggest that a well-received testnet, growing momentum from the Arichain collaboration, and a pipeline of upcoming integrations are starting to establish the foundation for credibility as a long-term infrastructure play rather than a fleeting experiment. “This is not financial advice, but the way they are structuring it’s definitely something worth paying attention to.” Kriptoloji mentioned.

Institutional Adoption Strengthens ETH Long-Term Outlook

Ethereum is still very much recognized at the institutional level. Goldman Sachs’ latest report reveals a powerful trend unfolding as institutional investors are deepening their involvement with ETH, with over $3.5 trillion in assets under management (AUM) now linked to the ecosystem. 

This level of exposure highlights the ETH transformation from a speculative blockchain into a critical layer of institutional-grade infrastructure. According to Crypto Patel, Elite KOL CoinMarketCap and Binance, this institutional pivot is one of the strongest bullish signals for ETH’s future.

Featured image from iStock, chart from Tradingview.com

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