The perpetual futures market significantly influences price movements, making it crucial to evaluate futures traders' sentiment for potential price trends. This analysis centers on Ethereum's 30-day moving average of funding rates, a vital metric indicating whether buyers or sellers are more aggressive in market orders.

Recently, the 30-day moving average of ETH funding rates has shown a slight bullish shift after a prolonged decline. This shift aligns with a broader market rebound and an increase in Ethereum's price, suggesting a possible change in market sentiment. The rise in funding rates indicates increased buying activity among futures traders, signaling growing bullishness.

For Ethereum to sustain its recovery and aim for higher price levels, demand in the perpetual futures market must continue rising. A sustained uptrend in funding rates could drive further price increases in the mid-term. However, maintaining this bullish sentiment requires consistent buying activity, as any significant reversal in funding rates could impede Ethereum's price growth.