The price of Ethereum has been hovering around $2,000 for nearly a month, with the technical structure showing no clear path to recovery. According to the latest on-chain data, the “King of Altcoin” is witnessing a rare signal that could mean that it is at the beginning of a positive trend. ETH Net Taker Volume Suggests Potential Bullish Price Trend In an April 4 post on the social media platform, pseudonymous market analyst Darkfost revealed that the Ethereum derivatives market is experiencing a regime shift for the first time since the last bear phase. This market outlook revolves around the change in the Net Taker Volume metric in recent weeks. Related Reading: Chainlink Price Lags Under $9: Large Binance Inflows Suggest Further Sell-Side Pressure The Net Taker Volume metric is an on-chain indicator that tracks the difference between the buying and selling volume of market orders in the derivatives market of a particular cryptocurrency (Ethereum, in this case). The metric is used to evaluate whether buying or selling pressure is the prevalent force in the market at a given time. When the value of the Net Taker Volume metric rises and turns positive, it indicates that buying volume is more significant than the selling volume. On the flip side, a negative value suggests that sellers are overwhelming the buyers in the Ethereum derivatives market. According to CryptoQuant data highlighted by Darkfost, volume from buyers appears to be prevailing in the Ethereum derivatives market, with a positive difference of over $104 million. This shift of the metric into the positive territory is happening for the first time in the past three years. The crypto analyst noted that the price of Ethereum was under intense selling pressure even as it climbed to new all-time highs. However, the market regime seems to be changing for the second-largest cryptocurrency by market capitalization. Darkfost mentioned that the positive buying pressure being experienced by Ethereum could contribute significantly to the formation of a strong bottom and potentially a foundation for a bullish market structure. “If this dynamic persists and the spot market and ETFs begin to support the move, Ethereum could potentially restart a positive trend,” the analyst concluded. Ethereum ETFs Record Negative Outflow For Third Consecutive Week The US-based Ethereum exchange-traded funds (ETFs) posted another period of negative performance over the past week. According to the latest market data, the spot Ethereum ETFs saw over $42.15 million withdrawn over the past week. Notably, the crypto-linked investment products saw a total net outflow of more than $71.12 million on Thursday, April 3, reflecting the waning investor demand and appetite. As earlier inferred, the direction of the ETH ETFs’ capital flow needs to change if the price is to enjoy a sustained recovery. As of this writing, the price of ETH stands at around $2,058, reflecting a 0.6% leap in the past 24 hours. Related Reading: Ethereum Foundation Nears 70,000 Staked ETH Target — Details Featured image from iStock, chart from TradingView
Ethereum is trading below the $3,700 level after days of heightened volatility and mounting uncertainty. The recent price action reflects a clear struggle by bulls to defend key demand zones, as bearish momentum continues to dominate short-term trends. Despite multiple rebound attempts, Ethereum has been unable to reclaim crucial resistance levels, raising concerns of a potential deeper correction in the near term. Related Reading: Is Bitcoin Overheated? Key Signal Flashes Warning Similar To 2021 And 2024 Market Tops However, strong fundamentals such as increasing institutional adoption, network growth, and broader market developments continue to support the bullish thesis for Ethereum over the coming months. These structural tailwinds suggest that the current weakness may be part of a healthy consolidation phase before the next major upward move. Top analyst Maartunn shared key insights revealing that the Ethereum Net Taker Volume (Daily) has turned sharply negative, signaling a growing dominance of sell-side pressure. This metric quantifies the difference between market buy and sell orders, providing a clear view of the current sentiment among active traders. Ethereum Net Taker Volume Signals Bearish Dominance Top analyst Maartunn shared critical insights regarding Ethereum’s current market dynamics, emphasizing that Net Taker Volume for ETH sits at -$418.8 million (Daily). This figure indicates that taker sellers have offloaded approximately 115,400 more ETH than buyers were willing to absorb through market orders. Net Taker Volume measures the difference between buying and selling volumes executed at market prices, offering a direct view of the aggressiveness of traders prioritizing immediate execution over optimal pricing. Such a significant negative Net Taker Volume reflects that market participants with a bearish outlook are dominating order books, pushing sell orders aggressively into the market. This behavior signals that sellers are not waiting for better prices, highlighting a serious short-term bearish pressure that can weigh on Ethereum’s price in the immediate term. However, this bearish signal comes after weeks of intense bullish momentum where Ethereum surged aggressively, reaching a local high of $3,940. Given this context, some analysts interpret the current selling pressure as a healthy correction rather than a structural trend reversal. Despite the negative Net Taker Volume, Ethereum’s long-term fundamentals — including institutional accumulation, network growth, and broader adoption trends — remain intact. The current bearish dominance in futures markets serves as a short-term cautionary signal, but it does not yet suggest a breakdown of Ethereum’s overall bullish structure. Analysts will be closely monitoring whether ETH can stabilize and hold key support levels in the coming days. Related Reading: Ethereum Consolidation Deepens As Taker Buy/Sell Ratio Hits One Of The Lowest Levels This Year ETH Price Analysis: Consolidation Below Key Resistance Ethereum (ETH) is trading at $3,624.67 after a volatile week marked by sharp pullbacks and failed breakout attempts. The daily chart shows ETH struggling to reclaim the critical resistance level at $3,860.80, which has become a psychological barrier after multiple rejections. Despite bouncing from a local low near $3,360, the bulls are finding it difficult to sustain momentum above the $3,700 zone. The 50-day moving average (MA) at $3,059.75 continues to slope upward, reflecting a longer-term bullish trend, while the 100-day MA at $2,742.48 and the 200-day MA at $2,503.32 act as major support zones. However, in the short term, price action indicates a bearish bias as ETH forms lower highs, suggesting weakening bullish momentum. Related Reading: Bitcoin Investors Selling More Aggressively As Bull Cycle Matures: Risk Appetite Fades? Trading volumes remain moderate, lacking the surge needed to propel Ethereum above resistance. If ETH fails to reclaim the $3,860 level soon, a retest of the $3,360 support zone could be on the cards. Conversely, a strong daily close above $3,860 would signal a potential continuation of the uptrend. Featured image from Dall-E, chart from TradingView