The recent positive funding rates are noticeably lower compared to previous periods. There is no heavy long pressure, meaning the market is not engaging in aggressive leveraged buying. Negative funding periods are very limited, which also shows that shorts are not dominant. Therefore, we cannot say there is excessive optimism in the market, but the long side although weak is still in control.
When funding is positive but low, it indicates that leveraged long positions are not strong and that mostly small traders are driving the activity. This means there isn’t enough strength to push the price sharply up or down. In such periods, the price tends to move into consolidation. In the final section of the chart, ETH fluctuating around $3.1K aligns well with this funding structure.
Based on this chart, it’s not difficult to expect ETH to continue stabilizing within the $3.3K–$3.7K range. Long positions are weak but dominant, and there is no notable selling pressure. The price has not formed a top yet. For this reason, I think the maximum upside could extend toward the $3,700 region.
Written by PelinayPA
