- Ethereum’s futures open interest show that the coin will reclaim its all-time high in the mid-term.
- Its key indicators also confirmed the rise in bullish sentiment in the coin’s spot market.
Leading coin Ethereum [ETH] may be poised for another significant rally in the mid-term, pseudonymous CryptoQuant analyst ShayanBTC noted in a new report.
The report assessed the coin’s futures market and found that despite the general market consolidation in March, ETH’s funding rates have remained positive, and its open interest has continued to climb.
Funding rates are used in perpetual futures contracts to ensure that the contract price stays close to the spot price.
When an asset’s contract price is higher than its spot price, traders who hold long positions pay a fee to traders shorting the asset. Funding rates return positive values when this happens.
Conversely, when the contract price is lower than the spot price, short traders pay a fee to traders holding long positions, leading to negative funding rates.
According to the analyst, as ETH attempts to reclaim the $4,000 price mark, there has been a “corresponding spike in the funding rates metric.”
The report added,
“This indicates an aggressive execution of long positions by participants.”
Coinglass data showed that the coin’s funding rate was a positive 0.024% at press time. When an asset’s funding rate is positive and grows, more traders hold long positions. This means more market participants are expecting the asset’s price to rise in the short/mid-term than those anticipating a decline.
Regarding the coin’s futures open interest, its double-digit price rally in the past week has caused this also to grow. Per Coinglass data, ETH’s futures open interest was $15 billion as of this writing. In the last seven days, this had grown by 7%.
According to the report:
“Considering these metrics, the market appears poised for another significant move in the mid-term, with the potential for long positions to be reinstated in the perpetual market. This suggests a favourable outlook for Ethereum’s price trajectory, potentially pushing it towards its all-time high.”
Are the bulls regaining their strength?
March was significantly marked by bearish sentiments, which caused ETH’s price to consolidate within a tight range.
However, readings from some indicators observed on a 1-day chart showed that the rally in the coin’s price in the last week confirmed that the bulls are now attempting to re-enter the market.
For example, for the first time since 15th March, ETH’s MACD line rested above its signal line.
When an asset’s MACD line crosses above its signal line, it suggests that its shorter-term moving average is starting to move upward quicker than its longer-term moving average. This indicates an increase in bullish momentum in the short term.
Read Ethereum’s [ETH] Price Prediction 2024-25
Also, ETH’s Directional Movement Index (DMI) showed that its positive directional index (green) crossed above its negative index (red) on 7th April.
This confirmed the change in sentiment from bearish to bullish.
Source: ETH/USDT on TradingView
- Ethereum’s futures open interest show that the coin will reclaim its all-time high in the mid-term.
- Its key indicators also confirmed the rise in bullish sentiment in the coin’s spot market.
Leading coin Ethereum [ETH] may be poised for another significant rally in the mid-term, pseudonymous CryptoQuant analyst ShayanBTC noted in a new report.
The report assessed the coin’s futures market and found that despite the general market consolidation in March, ETH’s funding rates have remained positive, and its open interest has continued to climb.
Funding rates are used in perpetual futures contracts to ensure that the contract price stays close to the spot price.
When an asset’s contract price is higher than its spot price, traders who hold long positions pay a fee to traders shorting the asset. Funding rates return positive values when this happens.
Conversely, when the contract price is lower than the spot price, short traders pay a fee to traders holding long positions, leading to negative funding rates.
According to the analyst, as ETH attempts to reclaim the $4,000 price mark, there has been a “corresponding spike in the funding rates metric.”
The report added,
“This indicates an aggressive execution of long positions by participants.”
Coinglass data showed that the coin’s funding rate was a positive 0.024% at press time. When an asset’s funding rate is positive and grows, more traders hold long positions. This means more market participants are expecting the asset’s price to rise in the short/mid-term than those anticipating a decline.
Regarding the coin’s futures open interest, its double-digit price rally in the past week has caused this also to grow. Per Coinglass data, ETH’s futures open interest was $15 billion as of this writing. In the last seven days, this had grown by 7%.
According to the report:
“Considering these metrics, the market appears poised for another significant move in the mid-term, with the potential for long positions to be reinstated in the perpetual market. This suggests a favourable outlook for Ethereum’s price trajectory, potentially pushing it towards its all-time high.”
Are the bulls regaining their strength?
March was significantly marked by bearish sentiments, which caused ETH’s price to consolidate within a tight range.
However, readings from some indicators observed on a 1-day chart showed that the rally in the coin’s price in the last week confirmed that the bulls are now attempting to re-enter the market.
For example, for the first time since 15th March, ETH’s MACD line rested above its signal line.
When an asset’s MACD line crosses above its signal line, it suggests that its shorter-term moving average is starting to move upward quicker than its longer-term moving average. This indicates an increase in bullish momentum in the short term.
Read Ethereum’s [ETH] Price Prediction 2024-25
Also, ETH’s Directional Movement Index (DMI) showed that its positive directional index (green) crossed above its negative index (red) on 7th April.
This confirmed the change in sentiment from bearish to bullish.
Source: ETH/USDT on TradingView
![Why Dogecoin [DOGE] cannot rise beyond THIS level right now](https://coininsights.com/wp-content/uploads/2024/05/PP-1-DOGE-price-120x86.png)
clomiphene remedio buy clomiphene tablets can you buy generic clomiphene without insurance clomid or serophene for men how to get generic clomid pill where to get clomiphene pill clomiphene pill
I couldn’t resist commenting. Adequately written!
Proof blog you possess here.. It’s hard to assign high worth article like yours these days. I truly recognize individuals like you! Go through mindfulness!!
how to buy azithromycin – buy ciprofloxacin pill flagyl pills
buy rybelsus tablets – purchase cyproheptadine generic where to buy periactin without a prescription
buy motilium pill – order tetracycline online cheap brand flexeril
zithromax 500mg pill – buy tindamax online cheap buy generic nebivolol
nexium 40mg cost – https://anexamate.com/ buy nexium 40mg generic
purchase medex pills – coumamide.com cozaar for sale online
buy mobic 15mg for sale – swelling buy mobic generic
how to buy prednisone – aprep lson buy deltasone 10mg generic
best ed drug – best otc ed pills buy generic ed pills for sale
buy amoxicillin for sale – comba moxi purchase amoxil generic
order diflucan pill – https://gpdifluca.com/ buy forcan online
escitalopram order online – https://escitapro.com/ order escitalopram online cheap
cheap cenforce 100mg – cenforce 100mg pill cenforce where to buy
purchase generic cialis – mantra 10 tadalafil tablets what is cialis used to treat
cialis blood pressure – tadalafil vs sildenafil cialis black review
purchase zantac pills – ranitidine 300mg uk zantac 300mg tablet
cheap viagra next day delivery uk – street value of viagra 50mg order viagra online in the uk
This is the kind of scribble literary works I in fact appreciate. order neurontin 800mg for sale
I couldn’t resist commenting. Adequately written! https://gnolvade.com/
More posts like this would create the online play more useful. https://ursxdol.com/azithromycin-pill-online/
I am actually enchant‚e ‘ to glance at this blog posts which consists of tons of worthwhile facts, thanks object of providing such data. https://prohnrg.com/product/acyclovir-pills/
More articles like this would frame the blogosphere richer. https://aranitidine.com/fr/viagra-professional-100-mg/
Thanks towards putting this up. It’s well done. https://ondactone.com/spironolactone/
Facts blog you have here.. It’s obdurate to on strong calibre writing like yours these days. I justifiably recognize individuals like you! Go through mindfulness!!
buy generic zantac online
I am in truth happy to gleam at this blog posts which consists of tons of of use facts, thanks representing providing such data. http://www.orlandogamers.org/forum/member.php?action=profile&uid=29103
order forxiga 10mg generic – this buy forxiga generic
xenical without prescription – https://asacostat.com/# xenical 60mg for sale