A recent analysis by CryptoQuant shows that, as reflected in positive funding rates in the futures market, Ethereum It points to growing optimism among traders.
Positive funding rates, an important metric that shows the balance of demand between buyers and sellers, indicate that market sentiment is bullish for Ethereum.
Currently, Ethereum’s funding rates are showing a steady upward trend, according to analysts. Positive funding rates indicate that traders in the futures market are increasingly inclined to invest on Ethereum’s price growth, increasing confidence in ETH’s near-term potential. However, despite this renewed optimism, funding rates have yet to reach the levels seen in early March, when Ethereum experienced a significant bullish rally, according to analysts.
According to CryptoQuant, this gap indicates that while enthusiasm for ETH’s prospects is increasing, it has not yet reached the level needed for a major breakout.
For Ethereum to break through current resistance levels and secure a long-term uptrend, analysts suggest that funding rates must rise further. Higher funding rates could indicate a stronger willingness among traders to go long, potentially fueling a longer-lasting rally by increasing buying pressure on Ethereum.
The CryptoQuant analyst stated that a continued increase in positive funding rates would likely be a precursor to a stronger uptrend and strengthen the bullish sentiment in the futures market.
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/ethereum-makus-talihini-yenecek-mi-analistler-yukselis-icin-gereken-sarti-acikladi/
