- Ethereum’s Open Interest and inflows might be a sign of a potential breakout, mirroring Bitcoin’s past bull cycle.
- Technicals show bullish structure, but ETH needs a strong catalyst to break above $2,600 short-term.
Is Ethereum [ETH] going through a calm before a breakout?
While traders obsess over short-term noise, ETH is stealthily stacking wins — Open Interest is at a record-breaking $34.08B and all signs point to a setup that is similar to Bitcoin’s legendary 2017-2021 bull run.
If $4K is the next big stop, are you looking close enough to see what’s coming?
Is an Ethereum breakout inevitable?
Ethereum’s Open Interest has climbed to an ATH of $34.80 billion as of the 18th of June. This surge is a sign of aggressive positioning from derivatives traders and a spike in speculative interest.
At the same time, institutional flows are accelerating: ETH saw over $500 million in weekly net inflows last week, a very strong influx.
Together, these show mounting conviction from both retail and institutional players; building the case for a sustained bullish breakout.
Déjà vu or destiny?
According to crypto analyst TedPillows, Ethereum’s current trajectory mirrors Bitcoin’s 2017-2021 cycle almost perfectly; from an 85% drawdown to a 350% rally, followed by a sharp 62% correction.
If history is any guide, the real parabolic phase may be just ahead — set in motion once ETH convincingly breaks above the $4,000 resistance.
Based on past patterns, this could mark the beginning of Ethereum’s own “real bull cycle,” with potential upside that mirrors Bitcoin’s explosive 1,190% surge.
Cautious optimism amid steady technicals
ETH traded at $2,541 at press time, comfortably above its 50-day and 200-day EMAs; a sign of bullish structure.
The RSI was at a neutral 50.20, so there’s room for upward momentum without entering overheated territory.
Meanwhile, the MACD remained in bearish territory, but signs of convergence hint that downside pressure may be easing.
While the broader outlook points to a breakout, short-term movement may stay muted unless ETH reclaims $2,600 with volume. For now, the trend favors the bulls — but the breakout will need a catalyst to ignite.
