The market is currently observing a gradual recovery in funding rates, which recently dipped to levels reminiscent of the significant contractions seen on December 18, 2022, March 11, 2023, and May 8, 2023. This trend is being closely monitored via the 72-hour moving averages-specifically the WMA, EMA, and MA - which highlight the depth of the sentiment shift. While price action appears to be consolidating within a horizontal range following the aggressive downside volatility observed since February, the current technical structure suggests that a sustained recovery may require further time to fully materialize.
Written by nino