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Ethereum Flashes First Clear Bullish Signal on Binance Derivatives Market in About Three Years
Uk Jin
Summary
- Ethereum was reported to be showing its first clear bullish signal in about three years on Binance's derivatives market.
- The analysis said Ethereum's 30-day average Taker Buy-Sell Ratio has climbed to about 1.016 and has stayed above 1 for several days.
- It said the indicator's move above 1 suggests the futures market is in the early stages of a gradual recovery in buying dominance.
Forecast Trend Report by Period
Ethereum is showing its first clear bullish signal in about three years on Binance's derivatives market, according to an analysis.
BeInCrypto reported on April 10, citing CryptoQuant contributor Darkfost, that Ethereum is flashing a bullish signal in the Binance futures market for the first time since 2023.
Darkfost wrote that Ethereum's 30-day average Taker Buy-Sell Ratio has risen to about 1.016 and has remained above 1 for several days. He described that as an early stage of a gradual recovery in buying dominance in the futures market.
The indicator measures the balance between market buy and sell volume. A reading above 1 means buying pressure is outpacing selling pressure.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
