Ethereum Price Approaches $2,800 Amid Rising Call Options Interest

Ethereum is experiencing heightened trader interest as the June 27 options expiry approaches. Key points include:

Open interest for call options at $2,500 and $2,450 leads with 770 and 647 contracts, indicating bullish sentiment.
Current ETH price is around $2,438, with traders anticipating a breakout due to concentrated open interest.
Implied volatility for at-the-money options is approximately 47%, with the $2,500 strike at 56.7%, suggesting expected price movement.
The highest put option concentration is at $2,425 (665 contracts) and $2,450 (217 contracts), indicating limited downside hedging.
Speculative bets are emerging on out-of-the-money strikes above $3,000, with some showing implied volatility near 999%.

Price Movement Analysis

ETH recently bounced from the $2,220–$2,250 support area and reclaimed the 50-day EMA at $2,425.
Price is consolidating below the resistance zone of $2,520–$2,600, which has historically rejected upward attempts.
A close above this resistance could lead to targets of $2,800 or even $3,100.
The daily RSI is flat around 47, with parabolic SAR dots indicating a potential shift to bullish momentum.
Volatility is increasing as the expiry date approaches, with testing at the median Bollinger Band around $2,518.

As Ethereum nears a possible breakout at $2,600, new projects like Snorter, a Solana-based trading bot, are gaining attention, having raised over $1.3M in presale.