Ethereum Rally Don Stop Because Dem Wan Watch Derivatives And TVL Drop
Ethereum price don rise over 54% for di past one month to around $3,755, because strong ETF inflows dey push am. But derivatives data dey warn make people siddon look: di annualized funding rate for ETH perpetual futures drop from 19% to 9%, di OI-weighted funding rate drop to 0.0043%, and di three-month futures premium reduce to 6% from 8%. On-chain metrics self dey weaken. Ethereum total value locked (TVL) drop 11% inside 30 days to 23.4 million ETH, na five-month low. For comparison, Solana TVL drop 4% while BNB Chain TVL raise 15%. For di past 30 days, Ethereum DEX volumes reach $81.4 billion, behind Solana $82.9 billion and BNB $189.2 billion. Technical indicators dey show mixed signals: symmetrical triangle fit lead to breakout for $7,709 and long-term ascending triangle talk $16,700, while monthly MACD crossover add bullish chance. But Ethereum must pass $4,100 and hold above $3,700 to keep di momentum. Institutional accumulation still strong: SharpLink Gaming get 438,000 ETH and World Liberty Financial get 77,000 ETH, wey show say dem still trust long term despite short-term wahala.
Neutral
Di combination updates show say price don rise strong because of ETF money and how big corp dey buy, but weak derivative metrics and on-chain data mean say e no too sure say price go still climb for this level. Technical pattern dey show target go up but dem need make price break big resistance level first. Traders go still dey careful until Ethereum touch $4,100 and maintain momentum pass $3,700. Dis balance of good and bad signs mean say near-term outlook neutral.