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 key indicator of market order aggressiveness.

Recently, ETH funding rates have shown a slight bullish shift after a prolonged decline, coinciding with a broader market rebound and an uptick in Ethereum's price. This suggests a possible change in market sentiment, with increased buying activity among futures traders.

For Ethereum to sustain its recovery and target higher price levels, demand in the perpetual futures market must continue rising. A sustained uptrend in funding rates could drive further price surges in the mid-term, provided buyers maintain momentum.