Ethereum (ETH) Futures Signal Bullish Shift Despite Price Drop

Ethereum's funding rates reveal growing optimism, but sentiment remains cautious.

Key Points:

1. Ethereum's funding rates indicate bullish sentiment among Futures traders.
2. Positive funding rates reflect higher demand for long positions.
3. Active addresses decline, suggesting waning retail interest.
4. Leverage ratio increases, indicating traders taking on more risk.

Technical Analysis:

- Funding rates uptrend, but below March's bullish peak.
- Resistance levels crucial for upward momentum.
- Sustained rise in funding rates needed for stronger investor confidence.

Market Trends:

- Declining active addresses (421,000) reflect caution.
- Increasing leverage ratio (0.42) introduces volatility.

Conclusion:

Ethereum's Futures market signals bullish shift, but sentiment remains cautious due to mixed trends in retail and Futures markets.

Potential Price Targets:

- Short-term: $2,600-$2,800
- Medium-term: $3,000-$3,500