Ethereum News Today: Ethereum Futures Volume Surges 50% to $104.2 Billion

Ethereum futures volume has surged to $104.2 billion in the past 24 hours, nearly 1.5 times higher than Bitcoin’s $67.5 billion. This surge in volume indicates a significant increase in speculative interest in Ethereum, as traders are entering new positions rather than closing old ones. The open interest in Ethereum futures has also risen by 6%, further signaling strong market participation and fresh speculative positioning in the derivatives market.

The price of Ethereum (ETH/USD) has surged from $2,400 to $3,581, approaching the critical $3,800 resistance zone from the December 2024 swing high. This sharp upward movement since mid-June has brought the price to a critical supply zone between $3,650 and $3,800, which is expected to attract aggressive sellers. Institutions that previously sold near this region may look to offload into the current strength, and early signs of pressure are visible through candlestick patterns printing long upper wicks near resistance.

Should Ethereum fail to push higher from this zone, a healthy pullback could find support near $3,200–$3,300. This area may offer a bid refill opportunity before further moves. A deeper retracement could extend to the $2,600 order block if selling pressure intensifies. However, if there is a confirmed close above $3,800 that breaks the current supply, we can see momentum move towards the psychological $4,000 mark. If continued bullish volume proceeds, Ethereum could retest last year’s highs near $4,600-$4,800.

At present, the uptrend of Ethereum appears to be rather solid, yet short-term resistance levels will be the determining factor of caution. With the increased derivatives activity and strong positioning, market participants will be waiting for confirmation or rejection at these levels with any upcoming sessions. The speculative environment around Ethereum is strengthening, but not yet showing signs of overheating. As leveraged positions grow alongside strong price action, eyes are now on how ETH performs against critical resistance levels.