Bears Take the Stage on Ethereum

Although the Taker Buy/Sell Ratio being above 1 seems positive, the price does not show the same strength. This indicates that buying in the market cannot push the price higher. Because large sellers are absorbing the incoming purchases. Real money inflow into the spot market remains weak.
Fund Price has been steadily declining after peaking in April. Long appetite in the futures markets is decreasing. Leveraged investors are reducing positions. The fact that Fund Price and the price are moving down together can be considered a signal supporting the downtrend.
Despite the Taker Buy/Sell Ratio increasing, the price is not reacting. The current ratio has risen to the 1.13 level. Under normal conditions, this would be expected to push the price higher. But the price only gives a limited reaction. This means that sell orders are stronger and whales are using the rises as selling opportunities. Such divergences are often seen in a continuation of a downtrend rather than an uptrend.
The price is still forming lower highs. Each reaction remains below the previous high. Lows are also being lowered. This structure technically indicates that the downtrend is still maintained. There does not appear to be strong demand on the spot side.
The probability of the downward trend continuing in #ETH appears higher than the probability of a strong and lasting recovery. Especially without a reversal in Fund Price and without the price breaking the downtrend technically, there is a risk that current buying remains more of a short-term reaction. The Taker Buy Sell staying above 1 could be interpreted as a dead cat bounce. #Ethereum
It is not #reklam or investment advice.