Summary Ethereum records a positive $13 million net inflow after weeks of persistent outflows. Open interest jumps to $40.96 billion as volume surges to nearly $95 billion. ETH approaches key resistance between the 50-day and 200-day EMAs. By Jainam Mehta Ethereum ( ETH-USD ) traded near $3324 on Wednesday after delivering one of its strongest intraday recoveries this month. The move comes at a crucial moment, with months of steady outflows and heavy overhead resistance defining the broader trend. Ethereum’s tone has shifted meaningfully. The return of green inflows, combined with surging derivatives engagement, marks a break from the defensive structure that has held since early autumn. Buyers have regained initiative for the first time in weeks, and charts across multiple timeframes now show a market moving from reaction to assertion. The question is whether this pressure can push ETH through the dense EMA cluster overhead or whether the move stalls at familiar resistance. Spot flows flip positive as derivatives positioning strengthens Monday’s positive net flow of more than $13 million stands out sharply against a backdrop of persistent outflows. Most sessions since October have recorded deep red prints, reflecting distribution and profit taking. Seeing inflows return as ETH approaches major resistance signals that at least part of the market is stepping back into accumulation mode. Derivatives activity adds further confirmation. Open interest has surged more than 8% in 24 hours to $40.96 billion. Futures volume has exploded to nearly $95 billion. Options trading has climbed as well, reflecting positioning for a directional expansion. Binance and OKX long ratios show a strengthening bullish tilt, with top-trader positions especially aggressive at 2.79 to 1 in favour of longs. The leverage side of the market is aligning for upside momentum after weeks of hesitation. Short-term charts show controlled strength as ETH breaks intraday resistance The 30-minute chart illustrates the change most clearly. ETH broke above tightening Supertrend resistance on Monday, launching into a sharp push that reached beyond $3330 before consolidating. SAR dots now trail steadily beneath price, confirming short-term bullish control. ETH price dynamics (Source: TradingView) A narrow consolidation band has formed between $3280 and $3340. This type of structure often precedes another upward extension if buyers maintain pressure. The intraday environment has shifted from choppy indecision to controlled accumulation, something that was largely absent through late November. Ethereum now tests the heavy EMA cluster that has capped every rebound since September ETH currently sits inside the most important technical zone on the chart. Price has reclaimed the 20-day EMA at $3116 and is pushing directly into the 50-day EMA at $3315. The next major barrier is the 100-day EMA at $3512, followed by the decisive 200-day EMA at $3456. This band rejected every rebound attempt during the autumn correction. A daily close above the 200-day line would neutralise the broader downtrend and reintroduce medium-term bullish structure. The RSI at 58 supports this potential shift, showing improved momentum without signs of overheating. If ETH breaks and holds above the $3450 to $3520 region, the next natural test emerges at $3800, the key ceiling that preceded October’s sharp pullback. Above that zone, market structure typically accelerates as shorts begin to unwind and fresh momentum flows return. Support remains firm at $3180 and $3120. Losing those levels would weaken the recovery narrative and pull ETH back into the tiring consolidation that defined most of the past month. In earlier updates, we noted that Ethereum needed fresh inflows and a decisive reclaim of its declining EMAs to escape its grinding downtrend. The latest price action confirms that the first step has now occurred. The test ahead remains the same. ETH must clear the EMA cluster near $3450 to confirm a shift in trend strength. This material may contain third-party opinions; none of the data and information on this webpage constitutes investment advice according to our Disclaimer . While we adhere to strict Editorial Integrity , this post may contain references to products from our partners. Original Post
