### Ethereum Breaks $3500 Resistance Ethereum (ETH) has recently broken above the $3500 resistance level on the daily chart, reigniting the bullish momentum. This move opens the possibility of a further advance towards the $4000 mark in the near term. ### Technical Indicators Confirm Bullish Momentum The Relative Strength Index (RSI) has climbed above 50, indicating that the momentum has shifted back to the upside. This is a positive sign that suggests the bulls are in control. ### Futures Funding Rates Cool Despite the positive price action, ETH perpetual futures funding rates have declined in recent weeks. This suggests that sentiment in the futures market is cooling down, which could potentially limit the rally's upside potential. ### Spot Demand Key for Continued Rally The sustainability of the rally will depend on whether there is sufficient spot demand to support it. If spot volumes remain high, the rally could continue in the coming weeks. However, if spot demand wanes, the rally may lose steam and ETH could face a correction.

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