PiCK
[Analysis] "Ethereum (ETH), Market Buy/Sell Ratio on the Rise... Bullish Signal"
Suehyeon Lee
- Recently, the Ethereum market buy/sell ratio has been rising, indicating a bullish signal.
- After Ethereum price rebounded from the $3,000 support level, market buy orders have increased.
- It was explained that when the market buy/sell ratio exceeds 1, the buying pressure overwhelms the selling pressure, which is interpreted as a signal for the start of a bullish market.
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- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
Image=CryptoQuant
Recently, in the Ethereum (ETH) futures market, the 'market buy/sell ratio', which reflects investor sentiment, has been rising, leading to an optimistic outlook.
On the 6th (local time), CryptoQuant author ShayanBTC analyzed, "After Ethereum's price rebounded from the $3,000 support level, market buy orders have significantly increased in the futures market. This indicates that investors are seeing a higher possibility of a short-term price increase for Ethereum and are building expectations for breaking the $4,000 resistance level."
He further explained, "When the market buy/sell ratio exceeds 1, it means that the buying pressure is overwhelming the selling pressure, which is usually interpreted as a signal for the start of a bullish market. The current rise in the ratio shows investors' confidence and supports the expectation of an upward trend for Ethereum."
Meanwhile, Ethereum is currently trading at $3,638.56 on CoinMarketCap, down 0.64% from the previous day.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.PiCK News
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