Editor's PiCK
[Analysis] "Ethereum Selling Pressure Intensifies… Strong Bearish Signal"
Summary
- maartunn, a CryptoQuant contributor, reported that selling pressure on Ethereum (ETH) is intensifying.
- He stated that the daily 'Net Taker Volume' of -$418.8 million shows that selling pressure significantly exceeds buying pressure.
- Ethereum is currently trading at $3,624.33, down 1.75%, according to reports.
It has been analyzed that selling pressure on Ethereum (ETH) is intensifying.
maartunn, a contributor to CryptoQuant, stated on the 6th via CryptoQuant that "the current daily 'Net Taker Volume' for Ethereum stands at a negative (-) $418.8 million," explaining that "this means that there are 115,400 more ETH being sold than the amount buyers can absorb." maartunn added, "This indicator conveys a certain message and the actions of market participants prioritizing execution speed over price are interpreted as a serious bearish signal at this point."
The Net Taker Volume is an indicator that measures the difference between buy and sell volume via market orders. Typically, when the Net Taker Volume turns negative, it means that selling pressure outweighs buying pressure.
Meanwhile, as of 7:34 PM on this day, according to CoinMarketCap, Ethereum is trading at $3,624.33, down 1.75% from the previous day.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul![[Market] Bitcoin slips below $77,000…Ethereum also breaks below $2,300](https://media.bloomingbit.io/PROD/news/f368fdee-cfea-4682-a5a1-926caa66b807.webp?w=250)
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