Ethereum Will Remain Bearish Until This Key Trading Reading Changes
Summary
Ethereum's price remains steady above $2,500, but bullish momentum is weak, trapped within a bear formation since August 27. A significant price increase above $3,500 is needed for a trend reversal. Analysts project a bearish outlook in the short to medium term, noting a decline in the positive funding rate for Ethereum perpetuals on exchanges like Binance and OKX. This indicates a bearish sentiment among leveraged traders, despite the funding rate remaining positive. A change in trend requires increased buying interest and rising funding rates. Spot Ethereum ETFs in the U.S. have seen net inflows of over $5.8 million, though this is significantly lower than late July figures.
