ETH Rally Sparks as Open Interest Hits 3-Month High

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Ethereum, that second-acting duchess of the crypto salon, has shaken off the dreary confinement of a multi-week trading range and sashayed above the resistance line, much to the relief of anyone who enjoys a good market plot twist. Volume and activity in derivatives and spot markets are rising, like a chorus at a school musicale. 📈💥

Ethereum Breaks Out Above $3,330

Ethereum has tiptoed past the $3,330 threshold, confirming a breakout from a symmetrical triangle on the daily chart, says chartist Ali Martinez. The thing had been loafing in a period of sideways movement, like a cat at a fish-and-chips shop.

Ethereum $ETH breakout confirmed!

Upside now opens toward $4,000.

– Ali Charts (@alicharts) January 14, 2026

The short-term trend has turned buoyant after the breakout, and all eyes are on whether ETH can scamper to $3,600 and eventually $4,000. The structure remains intact so long as ETH stays above $3,300, with $3,000 as a support and $2,600 marking the lower boundary of the previous range. A tidy little boundary, if you ask the chart.

In addition, Michaël van de Poppe pointed out that Ethereum held its 21-day moving average, which has kept the faint-hearted buoyant since mid-December. “Now, it’s ready to make new highs and continue the uptrend,” he said, adding that the $3,800 region is his next target. 🐎

Meanwhile, Daan Crypto Trades flagged $3,350 as a key level, though he warned that it remains a resistance until proven otherwise, depending on the strength of the daily close around that level.

“Breaking above this ~$3,350 level should lead to a move higher to catch the Daily 200MA next,” he said.

Momentum Builds as Price and Volume Climb

As of writing, ETH is trading near $3,300, showing a 24-hour gain of about 6% and a 7-day rise of roughly 4%, per CoinGecko. The move above $3,300 followed a few flirtations with failure and was supported by a jump in volume. Reclaiming $3,450 is seen as the kissing point on the way to $4,000. 🚀

As previously reported, a MACD golden cross has appeared, along with a cross between the 9- and 21-day moving averages. This sort of fanfare has preceded past price surges, so Ethereum is now trying to keep the rhythm and tease the overhead resistance without tripping over its own toes.

Open Interest Reaches 3-Month High

Open interest in Ethereum futures on Binance has climbed to $8.6 billion, the highest since October 9. This comes after a spell of quiet stability following sharp liquidations that pushed open interest below $7 billion in late 2025. Arab Chain notes the uptick as evidence of growing trader appetite. 🧭

“The renewed activity in the derivatives market shows rising appetite for leverage,” the analyst said.

While the ascent looks steady, analysts warn that continued spikes in open interest may amplify volatility if the price reverses, so keep your monocle ready and your optimism tempered. 😅

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2026-01-14 23:05