Ethereum Taker ratio hits a new low! ETH sell pressure intensifies, can it hold above $3,600?

Ethereum (ETH) has experienced significant fluctuations over the past week, pulling back sharply from a high of $3,940 to $3,360. The latest on-chain data shows that the ETH taker buy/sell ratio has dropped to one of its lowest levels this year, with sellers dominating the order book and short-term dumping pressure clearly intensifying. Can ETH hold steady at the key support level of $3,600, or will it dip further? This article provides an in-depth analysis.

Taker buy-sell ratio falls to 0.87, selling pressure dominates the market

According to top analyst Darkfost's data, the Taker buy/sell ratio in the ETH futures market has significantly dropped to 0.87 today, setting a new low for the year. This indicator reflects that aggressive sell orders dominate, indicating that dumping pressure continues to control the market. Since July 18, this ratio has mostly been negative, which is highly correlated with ETH's recent failure to break through key resistance levels and enter a short-term consolidation phase.

ETH Price Analysis: Rebound Stalled, Key Support Facing Test

ETH is currently priced at 3,654.60 USD. Although it is attempting to rebound after a significant pullback, it faces resistance at the 50-period SMA (3,668.28 USD), making it difficult for bulls to break through. The important resistance above is at 3,860.80 USD, and if it cannot effectively break through, ETH may continue to oscillate in the range of 3,850 to 3,350 USD. If it falls below 3,600 USD, one should be cautious of a dip to the long-term support at 3,300-3,350 USD.

Consolidation period may be a new round of upward momentum, fundamentals remain strong

Despite the intensifying short-term selling pressure, the surge in trading volume indicates that some buyers are actively entering the market at lower prices. Analysts believe that this consolidation period may lay a healthy foundation for the next round of price increases. As long as ETH can hold key support and consolidate at high levels, long-term on-chain holdings and institutional interest will continue to support its bullish outlook.

Conclusion

The Ethereum Taker buy-sell ratio has hit a new low, with short-term selling pressure intensifying. ETH needs to hold the key support level at $3,600. If it can stabilize and consolidate, there is still hope for a rebound in the future. Investors should closely monitor technical indicators and support-resistance levels to grasp the turning points of bullish and bearish trends.