Even with the Ethereum decline, it gave hope: Increasing appetite in the support zone is a harbinger of a turnaround! - Coin Bulletin

According to CryptoQuant analyst ShayanBTC, signals of a turnaround are starting to emerge in Ethereum specifically.

ShayanBTC's analysis dated December 30 gave hope to Ethereum investors. He pointed out that there has been a cooling-off period in the futures market after Ethereum's price dropped to the critical $3,000 level.

According to the analyst, this situation has increased hopes for a possible uptrend among market participants.

He emphasized that the consolidation above the $3,000 support level, in particular, laid the groundwork for bullish investors to re-enter the market.

This increase in demand is clearly observed with the rise in funding rates, which is a reliable measure indicating the sensitivity of the futures market. The increasing funding rates indicate that more investors are opening long positions and market participants are gaining confidence in Ethereum's direction change.

The recent increase in funding rates indicates that buyers are entering the market and if this trend continues, it could create a bullish momentum that could push Ethereum price to the critical $4,000 resistance level in the short and medium term.

According to CoinGecko data, Ethereum, which has shown a % increase in the last 24 hours, is trading against the dollar at the time of writing.