This month, Ethereum (ETH) is showing sideways trading, while significant accumulation is observed in the $4,300-$4,400 range. Market analysis showcases interesting trends among institutional investors.
Accumulation of ETH and Support at $4,300-$4,400
Around 1.7 million ETH, roughly $7.5 billion, has been accumulated at the $4,300–$4,400 level. Data indicates that accumulation addresses provide strong support should prices test lower levels again. Many users have withdrawn ETH from exchanges, indicating a tendency not to sell the asset in the near future.
Institutional Demand and Open Positions on CME
Open interest on CME has surged to all-time highs, reflecting intense interest from institutional investors. A heavy concentration on short-term contracts indicates increasing volatility risk. However, interest in long-term positions is also being observed in the market.
Challenges and Predictions for Ethereum's Near Future
From a technical standpoint, Ethereum continues to range between $4,200 and $4,500. A breakout above $4,500 could trigger rapid gains, while dips to $4,000 cannot be ruled out. Some analysts expect ETH to reach a resistance level of $6,800 by the end of the year.
Currently, Ethereum faces uncertainty in the short term, but support and institutional interest may play a key role in the future price dynamics.
