ETH's current spot price at $3020, well above the $2700 threshold, is supported by compelling on-chain and derivatives data. Exchange netflow has registered a cumulative 350k ETH outflow over the last 7 days, indicating robust accumulation and shrinking sell-side liquidity. Perpetual funding rates across major CEXs like Binance and Bybit are consistently positive at an average of 0.01%, confirming aggressive long positioning. On Deribit, OI for May 17th 2800-3000C strikes is substantial, signaling strong call buyer conviction, with the $2950 gamma flip acting as a magnet. Technically, the 20-day EMA at $2900 has served as reliable dynamic support for three consecutive closes, solidifying the short-term bullish structure. Volume profile confirms significant accumulation in this range. The path of least resistance is up, with $2700 now a foundational support. 95% YES — invalid if BTC breaks below $60k before May 10th.
ETH's current spot price at $3020, well above the $2700 threshold, is supported by compelling on-chain and derivatives data. Exchange netflow has registered a cumulative 350k ETH outflow over the last 7 days, indicating robust accumulation and shrinking sell-side liquidity. Perpetual funding rates across major CEXs like Binance and Bybit are consistently positive at an average of 0.01%, confirming aggressive long positioning. On Deribit, OI for May 17th 2800-3000C strikes is substantial, signaling strong call buyer conviction, with the $2950 gamma flip acting as a magnet. Technically, the 20-day EMA at $2900 has served as reliable dynamic support for three consecutive closes, solidifying the short-term bullish structure. Volume profile confirms significant accumulation in this range. The path of least resistance is up, with $2700 now a foundational support. 95% YES — invalid if BTC breaks below $60k before May 10th.
