Ethereum Price Surpasses All-Time Record High, Aiming For $2,000 As Futures Open Interest Hit ATH

John Isige
January 20, 2021 Updated June 5, 2025
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
  • Ethereum has jumpstarted the altcoin season, paving way for gains eyeing $2,000 soon.
  • Ethereum open high open interest suggests that volatility could remain high amid the fear of missing out (FOMO).

Ethereum embraced an independent rally on Tuesday rising above the former January’s high at $1,350. The flagship smart contract token spiked to a new record high on some exchanges such as Coinbase to exchange hands at $1,146.

At the time of writing, ETH is pushing for another leg up after retreating to test the ascending channel’s middle boundary. Ether is doddering at $1,390 while the downside is strongly protected. On the upside, the goal is to rise above $1,400 and to allow bulls to shift the focus to $2,000.

The Relative Strength Index suggests that Ethereum is not oversold yet. Thus, there is room for growth, and perhaps an opportunity to rise to another record high. Moreover, the 50 Simple Moving Average’s ability to stay above the longer-term 100 SMA validates the bulls’ influence over the price.

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ETH/USD 4-hour chart

ETH

 

Many analysts believe that this breakout could signal the beginning of an altseason. Meanwhile, the Ethereum futures’ open interest rose to levels never seen before, suggesting that investors are confident in the ongoing rally. Glassnode shows that the open interest shot up to $4.5 billion while posting $1.1 billion in open positions on the largest cryptocurrency exchange, Binance.

Ethereum futures open interest

ETH open

The surge in open interest suggests that volatility is high and the uptrend may be sustainable due to forces from the fear of missing out (FOMO), especially now that Ethereum eyes $2,000 in the short term.

Spot rate: $1,397

Relative change: 30

Percentage change: 2.2%

Trend: bullish

Volatility: High

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
John is a seasoned crypto expert, renowned for his in-depth analysis and accurate price predictions in the digital asset market. As the Price Prediction Editor for Market Content at CoinGape Media, he is dedicated to delivering valuable insights on price trends and market forecasts. With his extensive experience in the crypto sphere, John has honed his skills in understanding on-chain data analytics, Non-Fungible Tokens (NFTs), Decentralized Finance (DeFi), Centralized Finance (CeFi), and the dynamic metaverse landscape. Through his steadfast reporting, John keeps his audience informed and equipped to navigate the ever-changing crypto market.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.