The funding rate of ETH has turned negative, showing no signs of a pullback at all.

From an emotional standpoint, on one hand, those going long are caught in FOMO, while on the other hand, short sellers who are stuck have been frantically adding margin, which has instead become fuel for the market to continue rising.

In this short squeeze market, emotions are indeed a good auxiliary judgment basis, and those going long can hold their positions with peace of mind while waiting for profits.

Look to go long in the 3630-3670 range, targeting 3750 and 3820.