Ethereum Price Enters Low-Risk Zone as Open Interest Drops 50% Since August

Market Consolidation: Ethereum's price is stabilizing after a significant reduction in leverage, with open interest down about 50% since August, indicating reduced market risk and less aggressive selling pressure.

Trading Volume Trends: Binance's taker sell volume has reached its lowest since May, suggesting that traders are less eager to sell, which may lead to price stabilization rather than an immediate rally.

Technical Analysis: Ethereum is currently trading within a range of $2,800 to $3,300, with a downtrend marked by lower highs and lows, and a need for stronger buying volume to shift the market sentiment.

Future Outlook: A daily close above $3,300–$3,500 could signal a bullish trend, while a drop below $2,800–$3,000 may lead to further sell-offs, highlighting the importance of volume and momentum indicators in determining future price movements.