Crypto Analyst Predicts What Will Drive The Ethereum Price Back Above $3,000 Again

Quick Summary:

This change suggests that traders are once again becoming more confident in Ethereum’s price performance, particularly after the recent Fed interest rate cut.  ETH Funding rates refer to the periodic payments made between traders to maintain the price of perpetual futures contracts near the spot price of the cryptocurrency.

When the funding rates shift positively, it often indicates that long positions are more dominant, which can create upward price pressure.  The importance of the funding rates was emphasized by the analyst, especially considering the prospect of a bullish fourth quarter of the year.

Bullish Shift In Funding Rates According to an ETH analysis on CryptoQuant by ShayanBTC, Ethereum’s 30-day moving average of funding rates has seen a slight but noticeable bullish shift after an extended period of decline.

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Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: Ethusd Analyst Ethereum Crypto news Ethereum news Ethereum price Eth price Crypto ETH news ETH Crypto analyst Ethereum ETHUSDT

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-26 @ 22:30:53 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 465 words

Reading Time: 3 minutes read

Sentences: 62 lines

Sentence Length: 8 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 22743533

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