Ether price shows resilience despite macroeconomic uncertainty, with derivatives stable and onchain activity supporting recovery prospects. Following a substantial 15.1% drop, ETH found support near $4,070 without triggering a broad bearish shift. Futures data reveals a stable premium above 5%, indicating trader confidence, while options data suggests a neutral market stance lacking stronger bullish sentiment. Economic uncertainty, including concerns over US inflation and potential hawkish remarks from the Federal Reserve, appears to dampen investor sentiment. Nevertheless, onchain metrics highlight Ethereum's continued dominance in the DeFi space, capturing about 60% of the total value locked while network fees surged by 38% over the previous week. Though ETH derivatives reflect a cautious approach, they do not undermine Ethereum's fundamentals. Ultimately, reclaiming $4,700 will depend on reduced investor fears regarding the economy, yet the overall sentiment among professional traders remains composed, supporting the idea that Ether's recovery is positioned on firmer ground.

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