Ethereum Gains Momentum with $7.5B Accumulation and CME Record Highs

The Ethereum price has jumped 2.45% in the last 24 hours to trade at $4,510 on a 3% decrease in trading volume to $18.3 billion.

The surge in ETH price comes after strong accumulation activity around the $4,300–$4,400 level. CryptoQuant data shows an important trend, where about 1.7 million ETH (worth $7.5 billion) has been moved into accumulation addresses.

Ether inflows in accumulation addresses. Source: CryptoQuant

Most of these coins came from centralized exchange withdrawals, with an average buy price near $4,300, creating a strong support zone if ETH drops back to those levels.

On the other hand, wallets sending ETH to Binance show an average entry price near $3,150, highlighting the difference between long-term holders and active traders.

Institutions are also driving the market, with CME open interest reaching record highs, mostly in short-term contracts of one to three months. This could increase volatility around expirations, but also shows strong institutional activity.

ETH open interest on CME. Source: CryptoQuant

At the same time, growing interest in longer-term contracts of three to six months points to rising confidence in Ethereum’s future.

Ethereum Price Shows Strong Bullish Reversal, Eyes $6,000 Target

Ethereum (ETH) price has continued to rise, now trading around $4,554 after gaining 2.14% in the last 24 hours. The chart shows that ETH has moved out of the bearish channel it was stuck in earlier this year and has shifted into a clear upward trend.

After spending weeks consolidating near $2,800–$3,200, the coin built a strong support level that gave buyers the confidence to push the price higher.

The current pattern on the chart looks like a rounded bottom, which often signals a bullish reversal. ETH has managed to stay above the key $4,000 support zone and is now testing the $5,000 resistance level (R1). If the price breaks this level, the next target could be around $6,000.

ETHUSDT Analysis Source: Tradingview

On the other hand, support at $4,300–$4,400 is important for the bulls. If ETH falls below this zone, the price might retest the $3,600 consolidation area, which could slow down the current momentum. The RSI is at 59.43, showing that ETH is not yet overbought, leaving room for more growth before a major correction.

In short, Ethereum is showing strength after a long period of sideways movement. As long as it stays above support, the outlook remains bullish. A breakout above $5,000 could set the stage for a rally toward $6,000, while a drop below $4,300 would signal weakness. Traders should watch closely to see if ETH can confirm the breakout or hold its support.