maartunn
Ethereum: Sell Pressure Fades, Bottom Approaches ๐ฅ
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. Theyโve been outpacing taker buyers since February 2024โover a year now. During this time, Ethereumโs 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 Ethereumโs price is making lower lowsโa classic bullish divergence. To me, itโs only a matter of time before taker sellers lose their grip, and taker buyers step into the driverโs seat. That shift could mark a bottom. Whether itโs temporary or a more lasting reversal is hard to say right nowโbut one thing seems almost certain: a bottom is near.