Ethereum, the second-largest cryptocurrency by market cap, has finally seen a notable rebound in price and continues to break through major resistance levels.

With Ethereum’s price rising nearly 10% over the past week, talk has intensified that the cryptocurrency could hit a new all-time high before the end of the year.

Notably, consistent with ETH’s continued rally, there has been a renewed interest in Ethereum futures, with market indicators showing traders are bullish.





Is there more room for growth?

A CryptoQuant analyst named ShayanBTC recently shared insights into Ethereum’s continued rally, highlighting the role of funding rates — a key metric in futures trading. Funding rates reflect trader sentiment and indicate whether the market is predominantly bullish or bearish.




Shayan said Ethereum’s funding rate has seen a notable rise in recent weeks, indicating that demand for long positions is growing.

Despite this bullish sentiment, the analyst mentioned that the funding rate is still below Ethereum’s previous all-time high of $4,900, indicating that “it has not yet entered an overheated state.”

At the same time, while funding rates indicate bullish market sentiment, they are also a warning sign of a potential market correction. Historically, a sharp rise in funding rates has been followed by a sudden market correction or a wave of liquidations.

However, Shayan noted that Ethereum’s current funding rates remain manageable, meaning the market has more room to grow before these risks become severe.

Ethereum market performance and outlook

Ethereum is currently in an uptrend, having achieved double-digit gains of around 15.6% over the past two weeks. This bullish performance has propelled ETH above the critical $3,500 resistance level and set its sights on the next major resistance at $4,000.

Ethereum is currently trading at $3,563, up 1.3% over the past 24 hours. However, this price is slightly down from the 24-hour high of $3,682 reached earlier today.

Furthermore, Ethereum’s current price is only 26.78% below its all-time high of $4,878, highlighting that its market is gradually recovering.




Regardless of the bullish sentiment, Coinglass data shows that in the past 24 hours alone, 98,389 traders were liquidated, with a total liquidation amount of $278.03 million.





Of all these liquidations, Ethereum accounted for approximately $63.33 million, of which $40 million came from short positions and $23.3 million from long positions.

Given Ethereum’s current price performance, well-known cryptocurrency analyst Ali on X reiterated his target for ETH. Ali said that the medium-term target is still $6,000 and the long-term target is $10,000.




Our medium-term target for #Ethereum $ETH remains $6,000… Long-term target: $10,000!


#ETH🔥🔥🔥🔥 $ETH