- ETH surged from $2,111 to $2,515 in 2 weeks, pushing above key resistance levels
- Positive funding rates and a possible short squeeze signal heavy speculation
- A spike in Binance inflows suggests big players may be preparing for major moves or exits
Ethereum’s been turning heads again. Over the past couple weeks, ETH has jumped from $2,111 to around $2,515, bringing that elusive $3,000 target back into focus. It’s not just price action that’s making waves—underneath the hood, market dynamics are shifting in a big way. Funding rates have flipped positive, Binance inflows are spiking, and a short squeeze might’ve helped spark this rally. Feels like the bulls are waking up—again.
A Closer Look: Funding Rates and Liquidation Traps
According to analyst Amr Taha over at CryptoQuant, ETH’s breakout wasn’t some fluke—it had layers. The sudden flip from negative to positive funding rates signals that traders are piling into long positions, expecting more upside. But—here’s the kicker—too much bullish leverage can backfire. In fact, CoinGlass data shows 68% of recent liquidations came from long positions. That’s a warning flag. If longs get too comfy, a sharp drop could catch a lot of folks off guard.
The recent retest of the $2,500 area? That zone is where a previous short squeeze lit a fire under ETH. Shorts were forced to close, buying back ETH in a panic—classic squeeze mechanics. It’s the kind of setup that can create explosive moves, but also sudden snapbacks if momentum fades.
Binance Inflows and the Whale Shuffle
Another oddity: a hefty 177,000 ETH landed on Binance over just three days. That kind of on-chain move is usually tied to major players reshuffling positions—sometimes it means selling, sometimes it’s just prepping for liquidity moves. Either way, it adds tension. Big ETH deposits on exchanges don’t happen by accident.
Taha says this type of activity—coupled with the price flip above $2,500—suggests high speculative interest. But it’s not all sunshine. These are the kinds of signals that can precede both further surges or fast corrections.
What’s Next? $2,800 or Another Dip?
On the technical side, ETH just formed a golden cross on the daily chart, a pattern that’s usually seen as a bullish omen. That’s got some traders whispering about $4,000 again. But others, like analyst Crypto Wave, are a bit more grounded. He thinks there’s still a real chance ETH drops to the $1,700–$1,950 range if it can’t hold momentum.
At the moment, ETH is hovering around $2,429, down slightly in the past 24 hours. So we’re at one of those tipping points—either a breakout toward $2,800 and beyond, or a pullback that tests trader conviction.
