$200 Million ETH in One Hour: Enormous Ethereum Comeback#ETHETFsApproved #ETH🔥🔥🔥🔥

The sharp increase in open interest is indicative of a more positive mood on the market, which may have been influenced by developments unique to Ethereum or better macroeconomic conditions. Ethereum may regain its position as the market leader in terms of performance and innovation if this activity continues. The price chart indicates that after consolidating close to its EMAs, Ethereum recently rose above $3,200.

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An additional indication of a strong push from market participants is the recovery's correlation with higher trading volumes. The Relative Strength Index (RSI), however, is getting close to overbought levels, indicating a possible decline before Ethereum's upward trend continues.

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