Key takeaways:
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Excessive community exercise and a document stablecoin provide sign robust demand.
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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 through 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 document highs
Ether futures open curiosity (IO) hit a document 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% over the past two days. For context, three months earlier, on April 29, Ether’s OI was $20.75 billion when the value 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 knowledge hints a possible rally to $5K
This metric simply hit new document 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,” mentioned crypto dealer Merlijn The Dealer in response, including:
“This isn’t a traditional breakout, it’s gasoline for a vertical transfer. In the event you’re ready for affirmation, that is the affirmation.”
ETH OI dominance has additionally “climbed to just about 40%,” its highest in over two years, Glassnode wrote partly to a Tuesday publish 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 just about 40%, its highest degree since April 2023. Solely 5% of days have seen the next 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 “via the roof”
Ethereum’s community exercise continues to indicate power, with energetic addresses growing by 7.2% over the past 30 days, based on Nansen knowledge. 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, based on 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 via the roof,” mentioned common 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 Professional and TradingView exhibits ETH buying and selling round $3,800, up 6% over the past seven days.
As Cointelegraph reported, breaking $4,000 is vital to ETH’s upside potential and units the stage for a attainable rally to new all-time highs.
“$ETH Slowly creeping its approach as much as these cycle highs,” Daan Crypto Trades mentioned in his newest Ether evaluation on X.
The dealer was referring to the $4,000 resistance, which has rejected the value a number of occasions since February 2024.
Daan Crypto Trades defined that it will be” more healthy” for ETH to consolidate beneath this degree earlier than breaking, because the rally has been sudden already.
“That approach, it provides extra room for a bigger leg up afterwards. However both approach, maintain an eye fixed out for that $4K-$4.1K area.”
Based on market analysts Bitcoinsensus, ETH is ”able to explode to the upside” because it exhibits power for a breakout, above a multi-year trendline.
“With sufficient momentum, the breakout may result in a lot increased costs for Ethereum within the upcoming section of this cycle,” they added.
This text doesn’t include funding recommendation or suggestions. Each funding and buying and selling transfer entails threat, and readers ought to conduct their very own analysis when making a call.
