Amr Taha2025-10-19

Binance Traders Defend $3,700 ETH Support After Long Squeeze

📰 Daily Market Update While ETH price formed two almost equal lows around $3700, the Cumulative Net Taker Volume built a higher low. That’s a clear bullish divergence, indicating that selling pressure is easing and sellers might be running out of steam after a prolonged period of market sell dominance. 📊 Binance – ETH Net Taker Volume vs Price Net Taker Volume measures the difference between executed market buy and sell orders: 🟢 Positive values = buyers are dominant 🟣 Negative values = sellers are dominant 📊 Cumulative = tracks momentum over time On October 11, Net Taker Volume hit a low of -2.82B USD. By October 17, it had recovered to -1.09B USD — still negative, but showing signs of seller exhaustion. Meanwhile, ETH price formed equal lows near $3,700, repeatedly testing support but never closing below it. 📊 Binance – ETH Liquidation Delta On Binance, over $500 million of ETH long positions were liquidated near the $3915 level, marking one of the biggest long squeezes in weeks. A long squeeze occurs when the stop-losses of over-leveraged long positions are activated, converting those orders into immediate market sell orders. Historically, after these massive long liquidations, ETH tends to recover gradually, especially when retail traders using high leverage are flushed out.