Ethereum Open Interest Signal Imminent Price Breakout

Highlights

Ethereum Open Interest is on a rapid rally per CryptoQuant data
Ethereum price is moving in a divergent manner from the open interest
Key onchain and fundamental shift is needed to place Ethereum back on track

Ethereum (ETH) price is in the spotlight as the combined crypto market continues on its bullish trajectory. According to crypto analytics platform CryptoQuant data, a rising open interest has hinted that Ethereum may see a breakout soon.

Ethereum Price and Open Interest Outlook

According to CryptoQuant analyst Shayan BTC, if the Ethereum price breaches a key resistance level, it could set the stage for a sustained ride. Per the analyst, ETH open interest has steadily risen in recent weeks. He noted that this implies growing participation in the futures market.

The rising Ethereum Open Interest aligns with Coinglass data, which shows a 6.5% surge in this metric over 24 hours. Per the data, a total of 9.71 million ETHs are now committed by futures traders. Per Shayan’s analysis, the Open Interest has jumped to its highest level in weeks, with traders opening long positions.

Amid this outlook, the CryptoQuant analyst sees a sharp divergence between open interest and price. Despite the jump in open interest, Ethereum’s price is yet to break its previous cycle’s high. This shows a large imbalance between market expectations and price action.

At the time of writing, the price of Ethereum jumped by 5.26% in 24 hours to $3,369. Despite this growth, the coin is down by over 30% from its all-time high (ATH) of $4,891.70.

ETH Not Out of the Woods

According to the CryptoQuant analyst, the elevated open interest makes the coin susceptible to liquidation. This liquidation may trigger a drawdown, such as the crypto market selloff that impacted ETH earlier this week.

This outlook can push ETH prices in any direction that remains uncertain. However, Shayan BTC hinted that the current outlook suggests a potential rally is ahead. He noted that the price may chart a sustained rally if Ethereum successfully overcomes a crucial resistance level.

Rising Open Interest Signals Ethereum’s Imminent Breakout: A Bullish Rally Ahead?

“If Ethereum successfully overcomes key resistance levels, it could set the stage for a sustained rally.” – By @ShayanBTC7

Full post 👇https://t.co/nEkybTVB55 pic.twitter.com/GwE2S84ICb

— CryptoQuant.com (@cryptoquant_com) January 24, 2025

Per an earlier ETH price analysis, the prospect of the coin hitting $10,000 was deemed likely. This projection hinges on the growing accumulation of World Liberty Financial and its likely inclusion in the national reserve.

Ethereum Foundation and Pectra Influence

Beyond the technical indicators in the price of the coin, the prospect of the coin may also be impacted by the activities of the Ethereum Foundation.

As reported earlier, there is a projection that ETH may jump to $6,000 if the Ethereum Foundation stops selling the coin. Over the past few months, the Foundation has initiated a series of ETH selloffs, which it has noted are part of its operational obligation.

Additionally, Ethereum’s prospects may be impacted by the upcoming Pectra upgrade. This upgrade, scheduled to launch in mid-March, seeks to enhance the scalability and security of the chain. Developers are in the final stages of the launch, the success of which may significantly impact its price outlook.

Recommended
Price Analysis

Best Crypto Presales To Invest In September 2025 – Top Upcoming Presale Tokens

Best Crypto AI Trading Bots In 2025

Top Meme Coins To Buy In September 2025

Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and 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.

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.