Buying Ethereum with price above $3,930

Ethereum (ETH) market sentiment is now mixed, leaning toward cautious optimism—a view confirmed by both the technical setup and an analysis of call and put option levels. Clear bullish momentum is evident, with total open interest (OI) in ETH options reaching an extreme high (above the 52-week average). The bias is even clearer in the call/put ratio: calls significantly outnumber puts. This suggests that most market participants expect Ethereum to rise in the long run.

Large positions with call options for November and December are concentrated at strike prices above the current level, indicating a potential breakout of resistance. Despite the prevailing bullish sentiment, there is also significant open interest in put options, meaning that traders are actively hedging against a short-lived pullback in anticipation of high volatility or a correction. Although investors are predominantly bullish in the long run, short-term market sentiment (based on the Fear and Greed Index) is in the Fear zone. This situation reflects trader caution following recent downward price reversals.

Given the current option levels and market sentiment, ETH is likely to consolidate within the $3,500–$4,000 range for the remainder of November 2025, with volatility increasing as buyers and sellers test key thresholds.

If the price breaks through resistance at $3,900, strong institutional demand and positive network updates could push the crypto toward $4,400–$4,500 by the end of the month.

The overall recommendation is to buy Ethereum from the $3,930 level. Profits should be taken at $4,490. Stop Loss could be set at $3,500.

The volume of the open position should be calculated so that the potential loss (protected by a Stop Loss order) does not exceed 1% of your deposit. If your account balance does not allow opening a position of this size, it is better to avoid entering the market on this signal and wait for other trade options that meet low-risk criteria.