Ethereum’s on-balance volume (OBV) has surged to 12.75 million, indicating robust buying pressure as ETH approaches the $4,300 price level. The OBV breakout reflects renewed investor confidence and aligns with bullish technical indicators fueling Ethereum’s upward trajectory.
Technical analysis reveals an RSI reading surpassing 73 and a confirmed MACD crossover earlier this month, both signaling persistent strength since ETH broke above $3,600. These indicators support the thesis that current momentum could extend gains.
Market data shows OBV oscillating between 9.0 million and 10.75 million from April through early July before spiking to 12.75 million recently. This decisive shift underscores changing sentiment from neutral to overtly bullish among traders.
Supporting this move, trading volume has consistently expanded during price advances. A recent high of 16,150 ETH transacted during upward movements suggests accumulation typical of breakout conditions.
Critical technical levels include short-term support near $4,150-$4,000 if pullbacks occur. Sustained buying pressure could propel ETH toward higher resistance zones between $4,500 and $4,800 according to market observers.