Ether (ETH) has been experiencing positive growth over the past week, with analysts predicting further increases in the coming weeks. According to a report by CryptoQuant analyst Shayan, Ethereum futures market funding rates suggest that ETH has not entered an overheated phase, indicating potential for additional gains.
On November 28, ETH hit a six-month high, reaching $3,680, resulting in an 18% weekly gain. However, at the time of writing, ETH had retraced to $3,540, recording a 5% weekly gain. Funding rates, reflecting investor sentiment in the futures market, indicate ETH could reach a new high by the end of 2024, but also highlight short-term risks.
Despite the increase in funding rates, they remain below levels recorded when ETH reached its all-time high of $4,890 three years ago, suggesting that ETH is not yet overvalued or at risk of a major correction. Ethereum’s price outlook remains positive, with the possibility of a significant rally if it breaks through the $3,500 resistance level.
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<p>The post Ethereum’s Positive Trajectory: Room for Growth Amidst Funding Rate Surge first appeared on CoinBuzzFeed.</p>
