Ethereum price maintains support at $3,200, with traders expecting a surge to $6,500.
Rising holder accumulation and increasing open interest indicate strong investor confidence.
On-chain data and technical indicators support the token’s bullish momentum.
Ethereum is trading around $3,600, with projections pointing to a rally toward $6,500. The key support level at $3,200 has become the backbone of Ethereum’s bullish momentum, acting as a line of defense.
The price movement perfectly correlates with a textbook Elliott Wave structure denoting the buildup of five promotional waves showing bullish cycle movement. Analyst Crypto Tony excellently captures this with a forecast of Ethereum reaching the heights of $5,300 and $6,100 before making the 2026 target of $6,500.
ETH Elliott Wave Signals: $3,200 Key to Unlocking $6,500 Potential
The Elliott Wave analysis starts in wave (i), which began around $1,800 in mid-2023, up to wave (iii), which reached around $4,000. After a retracement below $3,200, it rebounded back, and Ethereum appears ready to complete wave (v), which is projected to push prices to fresh highs.
The detailed chart reflects shareholder confidence and disciplined market behavior, with the token forming higher highs and higher lows. This strategic growth trajectory demonstrates Ethereum’s resilience and positions it for long-term gains. The hype over a bullish setup on Ethereum is ringing all over trading circles, demanding that traders “not sleep on this one.”
Rising Open Interest Shows Ethereum’s Path to $6,500 Is Clear
As of press time, ETH trades at $3,630, as corroborated by on-chain metrics Santiment, which reveal bullish prospects for the cryptocurrency. Total ETH holders stand at over 135.64 million, while futures open interest has reached $6.54 billion as indicators of increasing confidence from investors.
These metrics echoed the earlier technical analysis that had built up into a support level towards its rise to $6,500, which put $3,200 on a critical level for Ethereum. With this consistent increase in open interest and the increase in wallet holders, long-term confidence and speculation are portrayed. Projections of analyst Crypto Tony for $5,300 and $6,500 gain belief as Ethereum consolidates and gains momentum.
With rising holder accumulation and record open interest, Ethereum’s bullish outlook appears more potent than ever. Supported by technical and on-chain trends, the token is positioned for growth, with $6,500 as a key target.
The post ETH Price Holds Strong: $6,500 Target Backed by Key Data appeared first on CryptoTale.
