"Ethereum sideways movement nearing an end…possibility of rising to $3,600"

There is a view that the price of Ethereum (ETH) could soon rise to $3,600.

Cointelegraph reported on the 9th, citing Coinglass data, that "the size of open interest (OI) in Ethereum futures increased by 40% from $26 billion to $36 billion over the past 30 days." Coinglass said, "This shows growing investor confidence (in Ethereum), and such patterns tend to appear before a sharp price increase."

The inflow of funds into Ethereum spot ETFs was also mentioned. Cointelegraph said, "The Ethereum spot ETF recorded net inflows for four consecutive weeks," adding, "(In particular,) BlackRock bought $500 million worth of Ethereum over the past 10 days." It added, "This reflects the confidence of institutional investors, despite Ethereum's price being 48% lower than its all-time high."

The Gaussian Channel, one of the trend indicators, was also highlighted. Cointelegraph said, "Ethereum's price climbed back above the middle line of the Gaussian Channel, and historically, when Ethereum broke through the middle line, a rally followed." Additionally, "If Ethereum remains stable above the key indicator of $2,570 and maintains momentum, it could rise from $3,100 to $3,600."