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Coin Telegraph

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Image Credit: Coin Telegraph

Why is Ethereum (ETH) price up today?

  • Ether's price surged 4% in the last 24 hours to reach a three-month high of $2,789 on May 29.
  • Factors like record open interest in Ether futures, rising funding rates, and increased inflows into spot Ethereum ETFs are driving the price rally.
  • The bullish continuation pattern suggests a potential 46% climb towards $4,000 as Ether reclaims key support.
  • ETH's price strength, high trading volume, record Ether futures open interest, positive funding rates, and institutional interest in spot Ethereum ETFs are contributing to the current uptrend.

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