Here is the price of Hy Ether can reach $ 4,000 in June

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Key results:

  • The price of Eterra has increased 108% to USD 2880 from April 9.

  • Eth Futures Open interest reached the highest levels of $ 20 billion, signaling a stubborn sentiment.

  • The stubborn pattern of the cup and Ether has $ 4,200.

The price of ether (ETH) gained 108% between April 9 and Wednesday, reaching USD 2,880 for the first time from February 8. This significantly exceeded the wider cryptocurrency market, which increased by 49% in the same period.

Open percentage of ether’s futures increased on Thursday to the highest level, which leads to speculation, whether the price of ETH can also gather to the modern highest all time.

Ether’s Futures show that ETH traders are stubborn

ETH Futures Open interest (OI) (cash margin) reached on Thursday a modern highest level of all time worth over $ 20 billion, which is an escalate of 155% from April 9, according to Glassnode data.

Futures Oi Mast Mast Metulual Metric Mears Total funds (in USD value) assigned in open, eternal futures contracts that are secured in cash. It helps to assess the level of participation in the market and the amount of capital threatened in cash in cash.

The growing open interest indicates an increased market share and modern money that comes across Futures ETH contracts.

Eth Futures Open interest: USD. Source: Glass knot

This influx suggests the growing trust of traders and investors, often the precursor of price profits as demand increases.

Glassnode noticed that traders utilize Stablecoin to obtain an exposure to ETH via Futures contracts, reflecting the strategic risk transition, despite the withdrawal of prices from 2800 USD.

This happens when Stablecoin market capitalization has reached the modern highest level of $ 228 billion in history, which is an escalate of 17% to a year.

Ether gains on bitcoins

The price of ETH has increased more than twice since April 9, exceeding Bitcoin (BTC), the price of which increased by 44% compared to the American dollar in the same period.

The ETH/BTC pair or the value of the ether in Bitcoins also increased by almost 50% from April 9, reaching the highest level of 0.02623 on Wednesday. ETH/BTC trades at around 0.02561 at the time of writing.

ETH/BTC ratio. Source: Cointelegraph/TradingView

“$ ETH still shows strength because it increased by 50% compared to #bitcoin from the lowest level in April”, he said Founder of MN Capital, Michael Van de Poppe in Wednesday’s post on X.

Related: Bitcoin, the price coil after inflation cools down and the American-Chinese tariffs are retreating

According to the trader, the continuous force of ETH suggests that “the bull market is finally starting.” He added:

“I think we underestimate the potential of the entire market.”

According to CointeLgraph, the ETH/BTC strengthening structure can cause a breakthrough at the price of the ether.

Map pattern of the mug and ether handle Eyes $ 4,200

The ETH/USD pair from 12 February creates a cup and handle map pattern in their daily chart.

The pattern will be solved when the price falls apart above the pattern neckline, gathering as high as the length of the previous decline. The ETH/USD chart below shows that the price has broken out of the handle and now reintemporary resistance to a neckline of USD 2800.

ETH/USD Daily chart. Source: Cointelegraph/TradingView

The decisive daily candlestick similar to the neckline will spotless the path to the technical target of the dominant chart pattern above USD 4,170 and more.

The analyst Daan Crypto Trades said that the level of 2800 USD (coincides with the neckline in the graph above) is “important” because it can cause a huge breakthrough of the ETH price.

According to Cointelegraph, a breakthrough of Ether from the bull flag can cause 30% profits to USD 3670.

This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.

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