Bears Take the Stage in Ethereum
While a Taker Buy/Sell Ratio above 1 seems positive, the price isn't showing the same strength. This indicates that buying in the market isn't pushing the price up, as large sellers are countering incoming purchases. Real money inflows into the spot market remain weak.
Fund Price has been steadily declining since peaking in April. Long appetite in futures markets is decreasing. Leveraged investors are shrinking their positions. The fact that Fund Price and the price are falling together can be considered a signal supporting a downtrend.
Despite the rise in the Taker Buy/Sell Ratio, the price isn't reacting. The current ratio has risen to 1.13. Under normal circumstances, this would be expected to push the price up. However, the price is only showing a limited reaction. This suggests that sell orders are stronger, and whales are using rallies as selling opportunities. This type of divergence is often seen in the continuation of a downtrend rather than an uptrend.
The price is still forming lower peaks. Each reaction remains below the previous peak. Lows are also being pushed down. This structure technically indicates that the downtrend is still being maintained. There doesn't seem to be strong demand on the spot market.
The likelihood of a continued downward trend in #ETH appears higher than the likelihood of a strong and sustained recovery. Especially without an upward reversal in Fund Price and without the price technically breaking the downtrend, current buying risks remaining more of a short-term reaction. A Taker Buy Sell above 1 could be interpreted as a dead cat bounce. #Ethereum $ETH
While a Taker Buy/Sell Ratio above 1 seems positive, the price isn't showing the same strength. This indicates that buying in the market isn't pushing the price up, as large sellers are countering incoming purchases. Real money inflows into the spot market remain weak.
Fund Price has been steadily declining since peaking in April. Long appetite in futures markets is decreasing. Leveraged investors are shrinking their positions. The fact that Fund Price and the price are falling together can be considered a signal supporting a downtrend.
Despite the rise in the Taker Buy/Sell Ratio, the price isn't reacting. The current ratio has risen to 1.13. Under normal circumstances, this would be expected to push the price up. However, the price is only showing a limited reaction. This suggests that sell orders are stronger, and whales are using rallies as selling opportunities. This type of divergence is often seen in the continuation of a downtrend rather than an uptrend.
The price is still forming lower peaks. Each reaction remains below the previous peak. Lows are also being pushed down. This structure technically indicates that the downtrend is still being maintained. There doesn't seem to be strong demand on the spot market.
The likelihood of a continued downward trend in #ETH appears higher than the likelihood of a strong and sustained recovery. Especially without an upward reversal in Fund Price and without the price technically breaking the downtrend, current buying risks remaining more of a short-term reaction. A Taker Buy Sell above 1 could be interpreted as a dead cat bounce. #Ethereum $ETH