Ethereum holds $2,300 support as Binance, Bybit open interest rises
Ethereum (ETH) shows fresh bid. Open interest concentrates on Bybit and Binance. Price retests $2,300–$2,400.
Derivatives repositioning leads the move. CryptoQuant’s Arab Chain tracks a split in exchange flows here.
- Bybit open interest up ~2.51 million ETH source
- Binance open interest up ~11,400 ETH source
- Bitfinex down ~35,700 ETH source
- Kraken down ~4,300 ETH source
- Gate.io shows muted activity source
Liquidity isn’t exiting. It rotates to select venues. Analysts call this a transitional phase, with liquidity clustering before stronger moves context.
Overall OI trend stays supportive. CryptoQuant says this underpins the stability of ETH’s uptrend as positioning rebuilds source.
Spot structure improves after February’s capitulation. Price rebounded from ~$1,800, based at $1,900–$2,100, and reclaimed a short-term moving average. ETH trades near ~$2,330. Still below the 100D and 200D, both sloping down.
Key level sits at $2,300–$2,400. Acceptance above opens $2,700 and $3,000 per the chart view. Rejection risks more range trade below resistance.
