{"id":650962,"date":"2024-11-01T08:00:42","date_gmt":"2024-11-01T08:00:42","guid":{"rendered":"https:\/\/ktsl888.com\/?p=650962"},"modified":"2024-10-31T17:22:12","modified_gmt":"2024-10-31T17:22:12","slug":"ethereum-futures-show-signs-of-optimism-will-positive-funding-rates-drive-a-breakout","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-futures-show-signs-of-optimism-will-positive-funding-rates-drive-a-breakout\/","title":{"rendered":"Ethereum Futures Show Signs of Optimism: Will Positive Funding Rates Drive a Breakout?"},"content":{"rendered":"

Ethereum recent performance in the futures market is generating optimism among traders and analysts, according to insights<\/a> shared by CryptoQuant analyst \u2018ShayanBTC.\u2019<\/p>\n

As the second-largest crypto by market capitalization, Ethereum has garnered notable attention following an uptick in funding rates\u2014a measure used to gauge the demand balance between buyers and sellers<\/a> in futures contracts.<\/p>\n

Related Reading: Ethereum Holds Key Support To Set A $6,000 Target \u2013 Analyst<\/a><\/div>\n

Rise In Funding Rates To Drive Breakout?<\/h2>\n

Positive funding rates imply that there are more aggressive buyers, indicating bullish sentiment, whereas negative rates suggest more sellers and a bearish outlook<\/a>. This trend reflects a favorable market sentiment for Ethereum, albeit with some caution regarding its sustainability.<\/p>\n

Despite this renewed optimism, the current positive funding rates for Ethereum, as highlighted by Shayan are yet to match levels seen in early 2023, when the cryptocurrency experienced a marked bullish trend in March.<\/p>\n

\"Ethereum
Ethereum funding rates. | Source: CryptoQuant<\/figcaption><\/figure>\n

This difference may indicate that, although sentiment is shifting, the momentum may need further strengthening to ignite a sustained rally<\/a>.<\/p>\n

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\u2019s potential price rise. The analyst wrote:<\/p>\n

\n

For Ethereum to overcome key resistance levels and sustain an upward trajectory, a higher funding rate would signal increased buying interest and confidence from futures traders. Higher funding rates would not only confirm participants\u2019 willingness to go long on Ethereum but would also add upward pressure on the price, potentially leading to a stronger and more sustained rally.<\/p>\n<\/blockquote>\n

Ethereum Market Performance<\/h2>\n

Ethereum has seen a noteworthy recovery in price in recent weeks. The asset has recorded a price uptick rising to as high as $2,719<\/a> on Wednesday.<\/p>\n

However, following the asset reaching this price mark comes a noteworthy correction<\/a>. Over the past day, ETH has decreased by 5.1%, shedding some of the profits in the past few days.<\/p>\n

\"Ethereum
ETH price is moving upwards on the 2-hour chart. Source: ETH\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

At the time of writing, the asset trades at $2,550 from its 24-hour low of $2,548. ETH’s daily trading volume has also followed the same trend, dropping from above $24 billion on Wednesday to below $20 billion. Regardless of this performance, some analysts remain bullish on ETH.<\/p>\n

Related Reading: Ethereum Price Consolidates Gains: Is It Ready for Another Push?<\/a><\/div>\n

For instance, renowned crypto analyst Javon Marks has recently highlighted<\/a> 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.<\/p>\n

\n

$ETH<\/a> (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!<\/p>\n

With prices up about +120% since breaking out, a run looks to already be in-effect, so another +75% move to\u2026 https:\/\/t.co\/qa7K8qGBT4<\/a> pic.twitter.com\/PrPDxfPzPa<\/a><\/p>\n

\u2014 JAVON\u26a1\ufe0fMARKS (@JavonTM1) October 30, 2024<\/a><\/p><\/blockquote>\n

Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Ethereum recent performance in the futures market is generating optimism among traders and analysts, according to insights shared by CryptoQuant analyst \u2018ShayanBTC.\u2019 As the second-largest crypto by market capitalization, Ethereum has garnered notable attention following an uptick in funding rates\u2014a measure used to gauge the demand balance between buyers and sellers in futures contracts. Related Reading: Ethereum Holds Key Support To Set A $6,000 Target \u2013 Analyst Rise In Funding Rates To Drive Breakout? Positive funding rates imply that there are more aggressive buyers, indicating bullish sentiment, whereas negative rates suggest more sellers and a bearish outlook. This trend reflects a favorable market sentiment for Ethereum, albeit with some caution regarding its sustainability. Despite this renewed optimism, the current positive funding rates for Ethereum, as highlighted by Shayan are yet to match levels seen in early 2023, when the cryptocurrency experienced a marked bullish trend in March. This difference may indicate that, although sentiment is shifting, the momentum may need further strengthening to ignite a sustained rally. 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\u2019s potential price rise. The analyst wrote: For Ethereum to overcome key resistance levels and sustain an upward trajectory, a higher funding rate would signal increased buying interest and confidence from futures traders. Higher funding rates would not only confirm participants\u2019 willingness to go long on Ethereum but would also add upward pressure on the price, potentially leading to a stronger and more sustained rally. Ethereum Market Performance Ethereum has seen a noteworthy recovery in price in recent weeks. The asset has recorded a price uptick rising to as high as $2,719 on Wednesday. However, following the asset reaching this price mark comes a noteworthy correction. Over the past day, ETH has decreased by 5.1%, shedding some of the profits in the past few days. At the time of writing, the asset trades at $2,550 from its 24-hour low of $2,548. ETH’s daily trading volume has also followed the same trend, dropping from above $24 billion on Wednesday to below $20 billion. Regardless of this performance, some analysts remain bullish on ETH. Related Reading: Ethereum Price Consolidates Gains: Is It Ready for Another Push? 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! With prices up about +120% since breaking out, a run looks to already be in-effect, so another +75% move to\u2026 https:\/\/t.co\/qa7K8qGBT4 pic.twitter.com\/PrPDxfPzPa \u2014 JAVON\u26a1\ufe0fMARKS (@JavonTM1) October 30, 2024 Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":650971,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[134,6664,10923,1946,91844,78803],"class_list":["post-650962","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-altcoin","tag-crypto","tag-crypto-market","tag-ethereum","tag-ethereum-market","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Futures Show Signs of Optimism: Will Positive Funding Rates Drive a Breakout?<\/title>\n<meta name=\"description\" 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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