Is Ethereum price leading? Eth Sell-pressure soars at $ 419m, second highest level ever

Key takeaways:

• Eth Net Taker Volume Hit -$ 418.8 million, the second largest -day -to -day selling imbalance.

• The price reresses a major resistance zone near $ 4,000, reflecting at the top of December 2024.

• ETH can drop 25% -35% towards major trendlines in September.

Ethereum’s native token, Ether (Eth), can establish a local top signal because its pressure sale is close to historical excess.

Traders sell 115,400 more ETH than they buy

Like Tuesday, ETH’s net taker has dropped to -$ 418.8 million, the second largest -day -day -to -day flow, with 115,400 more ETH sold than purchased by market orders, according to cryptoquant data.

Net Taker Volume monitors the difference between purchase and sale executed through market orders.

“Taker” trading prioritizes the speed of the price implementation, usually indicating a rush or fear. When Taker sells the amount of excessive purchase of a taker, it often suggests a capitulation or heavy income.

Such a huge imbalance of seller has historically marked the local tops, ” write Cryptoquant analyst Maartunn, who doubts the maintenance of Ethereum’s current rally.

Ether can deny 25% -35% to the next

The latest ETH sale pressure came up as the price tests a historical significant distribution zone between $ 3,600 and $ 4,000, a level that has repeatedly acted as a resistance since 2021.

The Ethereum faced a similar setup in December 2024. At this time, the amount of net taker became negative, and ETH also exchanged near the same resistance zone.

The next was a steep 66% decline, with a price collapsed towards 50-week (the red wave) and 200-week (the blue wave) exponential moving averages (EMA).

A similar outcome can open, including Eth Retesting of $ 3,600- $ 4,000 resistance, Net Taker Volume Plunging, and Weekly Relative Strength Index (RSI) Cooling from over -thinking.

The coherence of bearish signals increases the likelihood of ETH shrinking to 50-week and 200-week emery-current at $ 2,736 and $ 2,333, respectively-by September or October, similar to the refusal seen in late 2024.

Related: Blackrock led the record of $ 465m spot ether etf Monday Exodo

A collapse at these support levels will mark a 25% -35% decline from current prices.

This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.