Ether perpetual futures volume has surpassed Bitcoin, indicating a shift in market interest. Traders are uncertain about crossing the $4,000 resistance. The +1σ active realized price band near $4,500 is a key target for bulls. A breakout above this level could trigger rapid upward momentum but also carries the risk of overheating and structural volatility.

Ether futures markets show significant momentum, with Ether perpetual futures surpassing Bitcoin in volume dominance for the first time since 2022. Pseudonymous trader Byzantine General revised his short-term outlook, stating that ETH is too strong for a significant correction. Ether’s liquidation maps reveal a cluster of short liquidations above $4,000, potentially leading to a move toward $4,500.

Bearish divergences raise caution for ETH’s short-term outlook. The RSI has failed to confirm new local highs on both the four-hour and one-day timeframes, indicating potential buyer exhaustion. A persistent bearish divergence on the daily chart could lead to a short-term pullback if ETH fails to maintain volume above $4,000. Support ranges exist below $3,700 and between $3,200 and $3,300 in case of a bearish correction.

Read more at Cointelegraph: Can ETH Break $4.5K And Invalidate Daily Bearish Divergence?