On Monday, Ethereum's price was at $1,915, experiencing a 0.8% wobble after sliding from a three-month high of $2,015 due to an aggressive take-profit drive over the weekend. Traders are wary of a potential pullback below the immediate support level of $1,900, especially with Bitcoin's price hovering around $30,000.

Despite this, rising open interest on the Coinglass platform suggests that new money is entering the Ethereum market, which could lead to a breakout if the short-term support level is maintained and bullish momentum builds up. However, caution is advised if the price falls and open interest rises, indicating a strong bearish trend.