
Jakarta, Pintu News – Ethereum has experienced high volatility in recent weeks, with a significant price drop from its recent local peak of $3,940 to $3,360. After a period of aggressive buying, the market is now showing signs of exhaustion. Market analysts are starting to exercise caution, warning that a deeper correction is possible if Ethereum (ETH) fails to defend key support zones.

Recent data suggests a significant shift in the dynamics of the Ethereum (ETH) market. The taker buy/sell ratio, which is an important indicator in measuring the aggressiveness of buyers versus sellers, has declined sharply into negative territory today. This signals that sellers are currently dominating the order book, putting continued pressure on Ethereum (ETH) price action.
While some consider this a typical cooling phase after a big rally, others argue that Ethereum (ETH) is entering a riskier phase. Bearish sentiment could increase if key supports don’t hold. The coming days will be crucial in determining whether Ethereum (ETH) will stabilize at current levels or continue to slide into correction territory.
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According to leading analyst Darkfost, Ethereum’s (ETH) buy/sell taker ratio today plummeted into negative territory, reaching 0.87-one of the lowest levels recorded since the beginning of the year. This metric, which measures the ratio of aggressive buyers to sellers in the futures market, suggests that selling pressure is currently controlling the Ethereum (ETH) order book.
Although today’s data is still incomplete, current readings are already showing a predominance of sell orders on Ethereum (ETH) futures. Darkfost notes that this shift has been developing for several weeks. Since July 18, the buy/sell taker ratio has been generally negative, which correlates with Ethereum’s (ETH) inability to break through key resistance levels and its transition into a short-term consolidation phase.
Ethereum (ETH) is currently trading at $3,654.60, trying to stabilize after a sharp correction from its latest peak around $3,940. The 4 hours chart shows a recovery bounce that converges with resistance near its 50-period SMA (currently at $3,668.28), signaling that buyers are facing strong selling pressure at this level.
Despite the bounce, Ethereum (ETH) is still below the key horizontal resistance at $3,860.80, which has stymied several upside attempts in recent weeks. Bullish attempts to reclaim momentum earlier today were rejected near this level, resulting in a quick retracement back to the $3,600-$3,650 zone.
Although Ethereum (ETH) is facing short-term selling pressure, its long-term foundations still point to upside potential once this phase of selling pressure subsides. Stabilization and consolidation above the critical support zone could offer a healthy basis for the next leg up. However, failure to sustain levels above $3,600 could open up opportunities for a retest of lower support levels around $3,300-$3,350.
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