Analysts predict record growth of ETH to $ 4100

Ethereum’s funding ETH $2,327.33 Bridged Ether (StarkGate) -1.07% Market capitalization $42.7 million VOL. 24 hours $0.49 billion has reached its highest level since January 2024, which is causing optimism among traders. However, it could also indicate a potential correction as the price approaches an important resistance level of $ 4,100, where short positions could be liquidated and volatility spikes.

High funding rates have historically signaled excessive leverage in the market, leading to volatility. These conditions increase the risk of a sharp correction and thus put pressure on the Ethereum market. Therefore, as long as traders continue to bet on more growth, there is an increased likelihood of a price pullback, and funding rates serve as a warning signal.

At the time of writing, Ethereum’s price reached $ 3968, its market capitalization is $ 477.94 billion, and daily sales reached $ 40.44 billion.

Analysts noted that the recent price action was reminiscent of what happened in the 2018−2021 period before the great bull run. The current consolidation from 2022 reflects the same. If it does, it will follow the same pattern that occurred during the previous 980-day cycle when Ethereum rallied fully to new all-time highs, so these patterns often lead to significant price gains.Ethereum is now facing an important resistance level at $ 4,100, and if this barrier is broken, it could lead to a series of short position liquidations, which will push the price up. If the breakout is successful, it will pave the way for further growth of Ethereum, with a new increase in price highs possible.Analysts are pointing to a possible breakout after a long consolidation that has been going on for 980 days. A similar cycle has already been observed in previous periods before major bullish movements in the market.