🚀 Ethereum is heading towards the previous yearly high of $3.6K with a major increase towards a key resistance zone. Success above this critical level could pave the way for Ethereum to reach a new all-time high (ATH) in the near term.

📈 According to technical analysis, Ethereum's strong bullish momentum continues and it is reaching the $3.6K resistance zone. A break above this level could signal an extension of the uptrend towards Ethereum's ATH.

🔍 4-hour chart analysis confirms Ethereum's strong upward movement, reaching its highest level since April 2022. However, Ethereum is currently close to a key resistance zone defined by the critical $3.6K threshold.

💹 On-chain analysis shows that Ethereum has increased significantly and there has been an increase in investor confidence and purchasing activities. Ethereum's funding rates measure the aggressiveness of transactions by buyers and sellers in the futures market, with positive rates indicating bull market expectation while negative rates indicate a bear market trend.

📊 Recently, Ethereum's funding rates have been increasing along with the price uptrend, indicating a continuous bullish trend. However, high values ​​have risks and can trigger long liquidation cascades, leading to unexpected price corrections. Therefore, it is important to closely monitor funding rates during Ethereum's bull momentum.

Source: CryptoPotato