What does it mean when Ethereum touches the moving average support and the open interest in futures increases?

Question

【Crypto World】Recently, I've been observing Ethereum's trend, and it's quite interesting. The price is currently stuck between the 100-day and 200-day moving averages, below the key technical support level, which already signals weakness.What’s more worth paying attention to is the change in the futures market. Open interest is increasing, but the price is repeatedly consolidating within a range. This contradictory phenomenon has occurred many times in history—usually indicating an upcoming wave of liquidations. It is especially prone to trigger when the price experiences a slight rebound.ETH previously attempted to break through the downtrend line but was pushed back at the resistance level. The current situation is—speculators are increasing their positions, but the price has not followed the upward momentum. This often suggests that the next move could be quite volatile. The risk of liquidation is real; once triggered, both sides could experience fierce oscillations.From a technical perspective, short-term volatility is indeed expanding. If you look at the leverage data of futures contracts, you'll find a large accumulation of speculative positions. Once liquidations start, a chain reaction can happen quickly. That’s why many seasoned traders are currently watching—it's not that they are unwilling to act, but they are waiting for a clear directional signal to emerge.

MemeTokenGenius · Accepted Answer

Open positions are continuously increasing. Isn't this a signal that they want to trap retail investors? History always repeats itself.

rekt_but_vibing · Answer

Here we go again with the same pattern, increasing unrealized positions and the price staying still... I've seen this script too many times, every time claiming a liquidation wave, but then it reverses and pushes higher.

But this time, the feeling is indeed a bit different; the phrase "both sides are fierce" really hit me.

Let's wait and see—either a big surge or a big drop, there's not much room for anything in between.