maartunn
Ethereum: Sell Pressure Fades, Bottom Approaches đĽ
Ethereum has been struggling. While Bitcoin has reached new all-time highs in November '24, Ethereum has lagged behind - even with the recent ETF approval, it failed to set a new record. The main reason? Taker sellers have been far too dominant. Theyâve been outpacing taker buyers since February 2024âover a year now. During this time, Ethereumâs price dropped from around $4,000 to $1,800. However, the tide may be turning. Taker sellers are losing momentum. Net taker volume (sell volume) is showing higher lows, while Ethereumâs price is making lower lowsâa classic bullish divergence. To me, itâs only a matter of time before taker sellers lose their grip, and taker buyers step into the driverâs seat. That shift could mark a bottom. Whether itâs temporary or a more lasting reversal is hard to say right nowâbut one thing seems almost certain: a bottom is near.