#marketrebound $ETH

Leading altcoin, Ethereum (ETH), has seen a 15% decline in the past seven days. However, on-chain data reveals that this price decline merely reflects the broader crypto market sell-off as the bullish bias towards the altcoin remains significant.

The analysis highlights two key on-chain metrics that hint at a potential rally towards the $4,000 price zone in the near term.

First, Ethereum’s rising Estimated Leverage Ratio (ELR) indicates continued risk appetite, suggesting a possible rebound.

Furthermore, ETH’s positive funding rate is another sign that its price may soon experience a rebound. According to