Key takeaways:
Excessive community exercise and a file stablecoin provide sign sturdy demand.
Merchants anticipate ETH to rally to all-time highs as soon as $4,000 is damaged.
Ether’s (ETH) worth reclaimed the $3,800 degree after dropping to $3,700 throughout the early Asian buying and selling hours on Tuesday. Market analysts pointed to key knowledge metrics that recommend that “ETH is able to explode” to new all-time highs.
Ethereum open curiosity at file highs
Ether futures open interest (IO) hit a file excessive of $58 billion on Tuesday, indicating elevated market participation and new cash flowing into ETH futures contracts.
Combination OI in Ether futures has greater than doubled since June 22, up 10% during the last two days. For context, three months earlier, on April 29, Ether’s OI was $20.75 billion when the worth hovered round $1,800. Moreover, when Ether traded round $4,000 in December 2024, ETH futures open curiosity was solely $31.5 billion.
Associated: Evolving ETH futures data hints a potential rally to $5K
This metric simply hit new file highs, suggesting elevated demand for leveraged ETH positions.
“Open Curiosity simply hit a brand new all-time excessive. The worth is climbing. Leverage is stacking,” said crypto dealer Merlijn The Dealer in response, including:
“This isn’t a traditional breakout, it’s gasoline for a vertical transfer. Should you’re ready for affirmation, that is the affirmation.”
ETH OI dominance has additionally “climbed to almost 40%,” its highest in over two years, Glassnode wrote partially to a Tuesday put up on X.
“This marks a transparent shift in speculative focus, with capital rotating from $BTCto $ETH on the margin.”
#Ethereum open curiosity dominance has climbed to almost 40%, its highest degree since April 2023. Solely 5% of days have seen a better studying. This marks a transparent shift in speculative focus, with capital rotating from $BTC to $ETH on the margin. pic.twitter.com/yNKLe9gJKt
— glassnode (@glassnode) July 29, 2025
Community exercise is “by way of the roof”
Ethereum’s community exercise continues to indicate energy, with energetic addresses rising by 7.2% during the last 30 days, in keeping with Nansen data. The typical month-to-month transaction rely has additionally elevated by 16% over the identical interval to 43.3 million.
The weekly DEX quantity additionally hit a 4-month excessive of $22.6 billion, in keeping with DefiLlama, whereas the weekly App income hit a 6-month excessive of $89.8 million.
Stablecoin provide additionally reached an all-time excessive of $132.5 billion on Tuesday, signaling elevated liquidity and demand.
“Ethereum community exercise goes by way of the roof,” said in style analyst Elja in response to those onchain metrics, including:
“This implies $ETH new ATH is only a matter of time.”
Analysts anticipate Ether’s “prolonged rally”
Information from Cointelegraph Markets Pro and TradingView reveals ETH buying and selling round $3,800, up 6% during the last seven days.
As Cointelegraph reported, breaking $4,000 is essential to ETH’s upside potential and units the stage for a doable rally to new all-time highs.
“$ETH Slowly creeping its means as much as these cycle highs,” Daan Crypto Trades said in his newest Ether evaluation on X.
The dealer was referring to the $4,000 resistance, which has rejected the worth a number of instances since February 2024.
Daan Crypto Trades defined that it could be” more healthy” for ETH to consolidate under this degree earlier than breaking, because the rally has been sudden already.
“That means, it provides extra room for a bigger leg up afterwards. However both means, hold a watch out for that $4K-$4.1K area.”
According to market analysts Bitcoinsensus, ETH is ”able to explode to the upside” because it reveals energy for a breakout, above a multi-year trendline.
“With sufficient momentum, the breakout might result in a lot greater costs for Ethereum within the upcoming section of this cycle,” they added.
This text doesn’t comprise funding recommendation or suggestions. Each funding and buying and selling transfer includes threat, and readers ought to conduct their very own analysis when making a call.
