Ether Poised to Hit $3K as Institutional Interest Grows

Ether closed above $2,700, signaling bullish momentum and a potential altcoin season. Swissblock noted a more bullish scenario for Ether against Bitcoin, with ETH outperforming BTC. A critical 72-hour window could confirm altseason if ETH holds strong. Institutional demand for Ether is rising, with CME futures open interest hitting $3.27 billion.

Ether aims for a breakout above $3,000 after clearing resistance at $2,650-$2,750. A successful flip could lead to accelerated price movement. RSI above 60 indicates buying pressure, but failure to clear $2,750 may result in consolidation. Leverage spikes in ETH futures could precede price pullbacks, making the current range crucial.

The future of Ether’s rally hinges on breaking out of its range or facing further consolidation. The coming sessions will determine if Ether can sustain its bullish momentum or fall back into a period of sideways trading. Investors should conduct their own research before making any investment decisions.

Read more at Cointelegraph: Ether Rally To $3K Possible As ETF Flows, Futures OI Soar