Ethereum futures trading volume reaches US$36.45 billion, ETH targets US$2,550 resistance

Ethereum futures trading volume surged to $36.45 billion, with ETH targeting key resistance level of $2550

After falling about 1.5% last week, Ethereum started trading for the week at just above $2,500. Currently, the cryptocurrency is approaching a key resistance level of $2,550, and technical indicators show that the market continues to maintain bullish momentum.

Futures activity surges, spot funds flows diverge

Bitcoin remains stable above the main daily moving average, while Ethereum shows signs of growing bullish activity. CoinGlass data showed that Ethereum's 24-hour futures trading volume soared to US$36.45 billion, a month-on-month increase of 74%, much higher than the spot trading volume of US$2.48 billion during the same period.

The value of open interest in Ethereum futures is now at US$32.86 billion, reflecting the value of open interest. This continued investment suggests active trader engagement, although it does not reveal the ultimate direction of market sentiment. The current long and short ratio is 1.019, slightly biased towards long positions. The 0.0070% positive funding rate further enhances bullish logic, indicating that traders betting on price increases currently have to pay fees to maintain their positions. At the same time, rising futures volume and technical signals suggest that buyers maintain a presence in the Ethereum derivatives market.

The huge gap between futures and spot volumes, coupled with positive funding rates, reflects the optimism behind derivatives traders, even though the spot market performs relatively modestly.

Spot Ethereum ETF performed strongly last week

The spot Ethereum ETF performed strongly last week, recording $216.4 million in inflows on Friday. The fund continued to attract inflows this week, including $34.7 million on Wednesday, bringing the total weekly net inflow to $196.9 million. However, outflows of $24.3 million and $29.9 million were recorded on Tuesday and Thursday, highlighting the continued volatility of investor flows. Continued demand for spot ETFs is crucial to supporting the sharp rise in Ethereum prices.

Key technology levels and shifts on Wall Street

On Monday, Ethereum was trading at around $2,511, within easy reach of the important $2,550 resistance level. Technical analysis shows that ETH is still above its 50-day exponential moving average (EMA) of $2,264, its 200-day EMA of $2,203, and its 100-day EMA of $2,146. These moving averages are clustered below the current price range, indicating continued buying support.

The Relative Strength Index (RSI) is close to 60, indicating that bullish momentum is building, but has not yet reached the levels typically associated with market overheating. On the other hand, MACD remains in negative territory, indicating that further confirmation is needed to form a clearer bullish outlook.

If it can exceed $2,550, it will pave the way for Ethereum to hit the psychological barrier of $3,000. If ETH encounters a rejection at resistance, preliminary support is expected to be around $2,264 at the 50th EMA, and further buying interest could appear at the 200th EMA ($2,203) and the 100th EMA ($2,146). A break below these moving averages could increase the risk of a reversal towards $2,000; only when the price falls significantly below $1,385 is it expected to completely change Ethereum's long-term bullish structure.

As ETH approaches these technological milestones, the market's recent shift to tokenization and instant market access is accelerating. While traditional transactions often involve multiple intermediaries, more and more investors are turning to platforms such as 1stepSwap, which allow them to directly own ownership of tokenized assets such as major U.S. stocks and precious metals in their crypto wallets. By instantly obtaining the best available market prices and eliminating intermediaries, these solutions reflect Wall Street's accelerated transition to the Web3 era.

Staying above $2,500 will help maintain bullish sentiment and encourage traders to set higher targets, although spot-driven demand and solid capital flows will be key to supporting further gains. Market observers warn that the rally, driven mainly by derivatives markets, could prove short-lived if the cost of funds rises or overall sentiment worsens. Continued monitoring of spot demand and ETF flows is critical to assessing the durability of any short-term rebound.