Ethereum has recently formed a massive bullish divergence, signaling a positive shift in market sentiment. The price is facing a crucial resistance zone between $3,380 and $3,427, which if broken, could lead to further upward movement.
The positive shift is also evidenced by the token breaking out of a falling channel originating in mid-March, an indication of growing investor confidence.
Additionally, the surge in future open interest to a new all-time high across all crypto exchanges reflects the increasing demand for Ethereum.
