ETH shows a bullish divergence, with rising CMF suggesting increased buying interest. The positive funding rate reflects renewed optimism among traders. A breakout above the descending channel could push ETH towards $3,294, while failure might see support levels tested at $2,553.

Recent price volatility has put ETH under bearish pressure, yet these bullish indicators hint at a possible recovery. Traders are watching closely for momentum shifts that could signal a reversal and push ETH back towards the $3,000 mark.