Ethereum’s price is gaining bullish momentum after its Open Interest surpassed $20 billion for the first time in history. Meanwhile, crypto whales are also betting on Rollblock’s viral GambleFi project that is poised for a massive 100x rally on launch day.

Ethereum (ETH) Price Rallies After Network Activity Reflects Investor Confidence

Ethereum’s price has faced several fluctuations over the last few weeks but it is finally painting an extremely bullish picture. Since Ethereum’s Open Interest has surpassed $20 billion for the first time, analysts believe Ethereum is likely to surge towards the $4,000 resistance before the end of Q4. These bullish predictions are also fueled by Ethereum’s high network activity which is reflected by ETH blobs exceeding their threshold limit of 3. 

Amidst this positive sentiment, Ethereum has recorded a 7.01% intraday jump to its current trading price of $3,553.04. Since Ethereum’s daily chart is also flashing strong buy signals, Ethereum’s ongoing uptrend is likely to continue until the token’s RSI reaches the overbought level. If Ethereum can clear the next resistance at $3,767.47, analysts believe Ethereum could record a new all time high level before the end of Q4. $ETH


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