- Ethereum has reclaimed the $3,150 level but price momentum has weakened.
- Binance and CryptoQuant data show open interest (OI) steady at about $6.61B with a 30-day Z-score of 0.50.
- Stable OI alongside falling prices suggests market repositioning, not panic liquidations.
- Watch volume, 50/100/200-day SMAs and future OI changes to gauge the next directional move for ethereum price.
H2: What Binance and CryptoQuant Data Reveal
Fresh data from Binance and CryptoQuant indicate a tentative pause in selling pressure for ethereum price after a sharp decline from the $3,900 region. Open interest sits near $6.61 billion, with the 30-day average OI (avg30) at $6.44 billion and a standard deviation (std30) of $329 million. The resulting 30-day OI Z-score is around 0.50 — slightly above average and well within normal volatility.
H3: Why steady OI matters
A modest Z-score means traders are still holding positions rather than piling on leverage or rushing to close out. Historically, big corrections have been accompanied by surges in OI or dramatic falls as positions unwind. That is not happening now, suggesting the derivatives market is in a repositioning phase: active, but not overheated.
H2: Price Action — Momentum vs. Structure
Ethereum has bounced back to the $3,150–$3,160 zone after finding a local low near $2,750. However, momentum is fragile. Short-term technicals show the 50-day simple moving average (SMA) sloping down and sitting above current prices, while the 100-day SMA is declining toward the $3,350–$3,400 range. The 200-day SMA remains near the $3,250–$3,300 cluster.
These moving averages form a resistance band that ETH must overcome to confirm any bullish reversal. Volume has faded compared with the heavy sell-side spikes seen in prior weeks, which implies the recent bounce may be driven more by reduced selling than renewed buying.
H3: Bull vs. Bear scenarios
If large traders are predominantly short, steady OI could sustain downward pressure and prolong the corrective trend. Conversely, if longs make up most OI, stability could lay the groundwork for a more durable rebound once momentum returns.
H2: What traders should watch next
- Volume: rising volume on up moves would support a recovery in ethereum price.
- Open interest shifts: a sustained increase in OI on rising prices would suggest fresh bullish conviction; a drop in OI during sell-offs could indicate capitulation.
- Moving averages: breaking and closing above the 50-day and then the 100-day SMA would be necessary confirmation for bulls.
- Macro and news catalysts: network upgrades, regulatory headlines or broader crypto market moves can quickly change flows.
Bottom line: current data shows a market reset rather than a full-scale liquidation. Ethereum’s price sits at an inflection point — neither decisively bearish nor clearly bullish. Traders should monitor OI, volume and moving averages to get a clearer read on the next leg of the move.
Image Referance: https://www.tradingview.com/news/newsbtc:b672195ec094b:0-ethereum-loses-momentum-while-oi-holds-steady-binance-data-shows-a-market-reset/
