Ethereum’s recent rally has brought its price to $3,500, underpinned by significant interest in the futures market and a record Open Interest at $7.85 billion. Despite this bullish momentum, analysts are cautious about potential downturn risks.
The market shows signs of being overbought, with ETH’s Relative Strength Index nearing the correction zone. This suggests the risk of a market drop, although recent whale activity indicates sustained interest from large investors.
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