Ethereum (ETH) is currently priced at $3,667, up 4% in the past 24 hours, indicating a resurgence of market interest. Despite a 3.6% fall last week, it has still recorded a strong rise of 46% over the past month. The current price is oscillating between $3,380 and $3,874. The key signal is that the open interest (OI) of mainstream CEX ETH has reached a historical high of $8.7 billion, more than three times the peak of the 2021 bull run, but the funding rate remains neutral, indicating that the surge in leveraged holdings has not yet triggered overheating. The technical aspect shows an overall upward trend; if it can hold above $3,600 and break through $3,875, it is expected to challenge the $4,000 level.