ETH's market structure indicates robust demand-side pressure. On-chain, large whale wallets consistently accumulate above the $2900 range, while EIP-1559 burn rates keep net supply constrained. Derivatives funding rates have normalized, and open interest is rebuilding responsibly. The ETH/BTC ratio is stabilizing, signaling renewed rotational interest. A modest 7% rally from current levels to surpass $3200 is a low-volatility target for May amidst a broader recovery. 90% YES — invalid if BTC decisively breaks $58k support.
ETH's market structure indicates robust demand-side pressure. On-chain, large whale wallets consistently accumulate above the $2900 range, while EIP-1559 burn rates keep net supply constrained. Derivatives funding rates have normalized, and open interest is rebuilding responsibly. The ETH/BTC ratio is stabilizing, signaling renewed rotational interest. A modest 7% rally from current levels to surpass $3200 is a low-volatility target for May amidst a broader recovery. 90% YES — invalid if BTC decisively breaks $58k support.
