- 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?
Source: CoinGlass
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.
Source: SoSoValue
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.
Source: X
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.
Source: Trading View
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.
