Ethereum (ETH) price action is strengthening its uptrend as it approaches the 100-day moving average (MA). 📈 If ETH breaks this level, a sustained uptrend could begin.

On the daily chart, ETH has recovered from the 2.4K $ support and is approaching the 2.6K $ resistance. On the 4-hour chart, the price is facing critical resistance at the 2.6K-2.8K $ Fibonacci levels.

On-chain analysis shows that the market is optimistic with positive funding rates. However, these rates are below March levels, indicating that more buying interest is needed for a strong breakout. 🚀