Expert states investors are ready to support Ethereum

Following the market correction, Ethereum is showing certain bullish indicators. It suggests the existence of an optimistic sentiment among crypto traders, as concluded by CryptoQuant analyst EgyHash.

“These factors point to a persistent bullish outlook for Ethereum, as market participants appear ready to maintain, and potentially increase, their exposure to the asset,” the expert posted.

According to EgyHash, the Estimated Leverage Ratio of derivatives is still peaking, which indicates that investors are still hungry for risks. Moreover, the funding rates for ETH can be estimated as moderately positive. This can serve as evidence of long positions that are dominant, but not to the extreme.

“This moderation suggests there is still room for a healthy price increase without an imminent risk of large-scale liquidations,” EgyHash explained.

The Korea Premium Index, which is used to measure the price gap between trading platforms in South Korea and abroad, is positive and trading at a considerable premium. This “bodes well for overall market sentiment.” EgyHash also highlighted the increase in ETH fund holdings.