Ethereum (ETH) is showing strong momentum with a potential breakout to $3,200 driven by rising trading volumes and bullish sentiment.
The recent surge in Ethereum's price, currently at $2,666, has reignited discussions about unfilled CME futures gaps near the $3,200 mark.
Market analysts suggest that historical price behavior indicates these gaps tend to get filled, acting as future price magnets for Ethereum.
Despite concerns of an 'overheated state,' there is strong long-term conviction in Ethereum, with institutional inflows and low holdings on centralized exchanges.