Funding rates surge indicates trader Optimism: Ethereum’s funding rates have surged to levels not seen since early January 2024, suggesting increased trader confidence in the asset. However, elevated rates could also signal overleveraging, necessitating caution from investors due to potential market corrections.
Critical resistance level at $4,100: Currently, Ethereum is testing the key resistance level of 4,100 USD. A decisive break could trigger a rapid price increase, particularly with numerous short positions existing around 3,800 USD to 4,000 USD, leading to potential liquidations and heightened market activity.