Ethereum Futures Show Signs of Optimism: Will Positive Funding Rates Drive a Breakout?

Quick Summary:

Ethereum recent performance in the futures market is generating optimism among traders and analysts, according to insights shared by CryptoQuant analyst ShayanBTC.’ As the second-largest crypto by market capitalization, Ethereum has garnered notable attention following an uptick in funding rates—a measure used to gauge the demand balance between buyers and sellers in futures contracts.

Shayan observations suggest that while traders lean towards a positive outlook on Ethereum, this sentiment must translate into higher funding rates to indicate a stronger conviction in the asset’s potential price rise.

For instance, renowned crypto analyst Javon Marks has recently highlighted that Ethereum is coming off “confirmed Hidden Bull Divergence patterns and an RSI breakout,” which sets its price to climb by 75% to reach the $4811.6 target.$ETH (Ethereum), coming off of multiple confirmed Hidden Bull Divergence patterns and an RSI breakout, can be setting here for a continuation towards the $4811.6 target!

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Article Details

Author / Journalist: Samuel Edyme

Category: Crypto

Markets: United Kingdom

Topics: Ethereum Market Crypto market ETHUSDT Ethereum Crypto Ethereum Altcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 08:00:42 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 435 words

Reading Time: 3 minutes read

Sentences: 74 lines

Sentence Length: 6 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 23362567

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Main Topics: Crypto

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