⬛On November 24, the open interest in Ethereum (ETH) futures reached a record $20.8 billion, while the options market surpassed $8 billion. However, ETH’s price continues to correct, failing to break the $3,500 resistance level. High selling volumes indicate a short-term downward trend.
⬛Analyst EtherNasyonal predicts that by early 2025, ETH will break the downward trend that has been forming since November 2021 and reach $3,700. Afterward, exponential growth could push the price to $10,000 by the end of 2025.
⬛While the forecast is based on historical patterns, traders should consider the prolonged duration of the current bear trend and maintain cautious expectations.