Ethereum Eyes New Highs as Bullish Signals Strengthen: Is $10,000 in Sight?

Ethereum Eyes New Highs as Bullish Signals Strengthen: Is $10,000 in Sight?
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Ethereum is capturing renewed attention in the crypto markets as a series of technical and derivatives-based signals point to a potential breakout, with some traders setting their sights on the $10,000 mark. The recent price action, combined with robust support levels and a surge in call option activity, is fueling optimism among both retail and institutional participants.

Solid Support and Technical Momentum

After rebounding from a key support zone, Ethereum has confirmed a bullish structure that analysts say could underpin further gains. According to market observers, the cryptocurrency’s ability to hold above crucial levels has reignited discussions about a sustained upward trend. This technical resilience is drawing in traders who are watching for confirmation of a breakout pattern, which could have ripple effects across the broader altcoin market 1 2.

Options Market Shows Growing Optimism

On-chain analytics from Glassnode reveal a notable shift in Ethereum’s options market. The put/call open interest ratio has dropped to 0.43, while the put/call volume ratio stands at 0.63—both near record lows. This skew toward call options suggests that traders are increasingly positioning for upward price movement. Short-term options have also seen a pronounced tilt, with the 1-week and 1-month skews moving deeper into negative territory, indicating heightened demand for short-dated calls and expectations of near-term gains.

Market Sentiment and Price Outlook

The combination of technical strength and bullish options activity is reinforcing positive sentiment. At the time of writing, Ethereum is trading around $2,857, marking a 4% gain in the last 24 hours and a 7% increase over the week. Analysts suggest that if the current momentum continues, Ethereum could reclaim the $2,800–$2,900 range in the short term, with the next macro target at $3,148 if bullish momentum persists 2 3. The broader market is also watching for increased trading volumes and institutional flows, which could further support the uptrend 4 3.

What’s Next for Ethereum?

While the $10,000 target remains ambitious, the alignment of technical indicators and derivatives market sentiment suggests that Ethereum is well-positioned for further upside. Traders are advised to monitor key support and resistance levels, as well as broader market sentiment, to gauge the sustainability of the current rally.

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