Ether's price has surged 108% to $2,880 since April 9, outperforming the broader cryptocurrency market's 49% rise. On June 12, Ethereum futures open interest reached an all-time high of $20 billion, reflecting bullish sentiment and increasing market participation. This growth, attributed partly to the rising stablecoin market cap, indicates heightened confidence among investors. Rising open interest often signals potential price gains, particularly as ETH has also surpassed Bitcoin's performance during the same timeframe. Additionally, technical analysis reveals a cup-and-handle pattern in the ETH/USD chart that targets a price of $4,200, suggesting the potential for significant gains. A key price level at $2,800 needs to be monitored, as a decisive close above it could lead to further upward momentum in Ether's price. Analysts believe that despite recent pullbacks, the market may be on the cusp of a breakout, illustrating a bullish outlook for ETH moving forward.

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