Ethereum is entering a decisive phase of its bull cycle, pushing in new peaks after finally exceeding its summit in 2021 of $ 4,8860. This decision comes as the Bulls resumed full control of the market after a remarkable thrust of 14% on Friday, marking one of the strongest performance of the year.
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The rally was ignited by remarks by the president of the Federal Reserve Jerome Powell at the Jackson Hole symposium. In his speech, Powell alluded to a potential relaxation of American monetary policy, declaring that restrictive conditions may no longer be appropriate as the risks change. The market reaction was immediate: in a few minutes, actions and cryptocurrencies have increased sharply, Ethereum leading to the Altcoin sector.
At the same time, derivative market data confirms the intensity of the decision. The open interest (OI) increased aggressively while the traders wins in positions with leverage, reflecting a renewed speculative appetite. The sudden influx of liquidity added fuel to the Ethereum rally, pushing the price dynamics beyond its level of multi-year resistance.
With the ETH now in an Uncharted territory, analysts see the potential of continuation as long as the expansion of the OI does not overheat in an excessive lever effect. The coming weeks will determine whether this escape is maintained or turns into another volatile correction.
Ethereum derivatives report historical momentum
Ethereum’s escape in new summits is reinforced by an extraordinary action on the derivative market. According to the upper analyst Maartunn, at least $ 3.18 billion in new posts entered Ethereum derivatives within 24 hours, which increased the open interest (OI) by almost 10%. He described this as “insane things”, highlighting the scale and the speed at which traders position themselves for the next decision.
This increase in the OC indicates aggressive speculation, investors betting on Ethereum’s momentum continuing after breaking its summit in 2021. Although the higher OI often feeds rallies by injecting liquidity, it can also create a high volatility if lever -effect positions are relaxing. However, the extent of the entries reflects an increasing conviction in the potential for the rise in ETH.
At the same time, the volume of purchase of Taker of Ethereum (timetable) reached a maximum of $ 5.76 billion. This metric, which captures aggressive market purchase orders, shows that demand is not only speculative but also immediate. Such an activity on the taker side often coincides with the rupture phases, when the bulls dominate both the spot and derivative markets.
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Price overvoltages to retest the new heights
The 4-hour ETH graphic Ethereum exploded higher, pushing above $ 4,800 after a clear break in recent consolidation. This wave follows a rebound near the SMA of 100 periods (green line around $ 4,298), where the bulls defended support in an aggressive manner before sending the price in a vertical movement.
Ethereum now resets its large region of all time around $ 4,8860, with a dynamic signaling high purchase pressure. The SMA of 50 periods (blue line) runs again, confirming a short -term bullish structure. Meanwhile, the SMA of 200 periods (red line around $ 3,994) remains comfortably below the price, showing that the wider trend is intact.
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This rally also crossed a series of lower ups trained during the recent decline, suggesting that the lowering control has blurred. The volume tips during rupture add confidence to the strength of this movement. If the bulls support the momentum, Ethereum could enter into the discovery of prices, targeting the psychological level of $ 5,000.
However, if the rejection occurs at $ 4,8860, the ETH can retain the support zone from $ 4,400 to $ 4,500, where the convergent medium -sized moving. The graph highlights a critical phase: Ethereum continues its rupture towards new peaks or is consolidated before another attempt. The bulls clearly hold the upper hand after this explosive escape.
Dall-e star image, tradingview graphic
(Tagstotranslate) Eth
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