After failing to reach a new all-time high (ATH) of $5,000 in August 2025, Ethereum (ETH) may be poised to break this psychologically significant level. A decrease in Binance’s open interest suggests ETH is nearing a local bottom, signaling its next move. Analysts anticipate a potential drop in Binance’s ETH open interest to $9.69 billion, indicating ETH is currently in a local area but could experience further price drops before stabilizing. 📉📊
On another note, market indicators like the Fund Market Premium (FMP) and exchange reserves hint at institutional interest in ETH, potentially supporting a price target of $6.8K. Although ETH is currently trading at $4,491, a recent rally pause raises concerns amidst predictions of reaching $5,500 in September. The crypto market’s dynamics remain crucial in determining Ethereum’s future price movements. 📈🚨
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