ETH

ETH OI at 844,601 contracts, up 1.03% over 24h while price rose 1.79% to ~$1,985. This represents a rising OI + rising price scenario confirming bullish momentum. OI is 1.6% above 7-day average, indicating fresh capital entering but not at extreme levels. Volume remains healthy (200K-370K per candle), validating the OI expansion. Key observation: OI growth lags price growth slightly (1% vs 1.8%), suggesting partial short covering contributing to the rally rather than purely new long positions. No OI spikes or squeeze conditions detected. Support zones: VPOC at $1,972, short liquidation cluster at $1,897. Monitor for OI stabilization or contraction which could signal consolidation.