- Ethereum’s Binance sell pressure eases as taker buy-sell ratio turns positive, signaling tentative trader bid dominance.
- ETH trading volume surges 570% to $52B amid dip to $1,473; whale accumulation could stabilize prices.
Ethereum’s recent price decline shows tentative signs of stabilization, with metrics suggesting reduced selling pressure on Binance. The exchange’s taker buy-sell ratio, which measures buy orders against sell orders, shifted into positive territory over a seven-day average.
The taker ratio’s move above 1.0—a threshold separating net buying from selling—marks a subtle change in market behavior. While not definitive, the trend aligns with a 570% surge in ETH trading volume, reaching $52.37 billion as prices dipped to $1,473. ETHNews analysts attribute this volume spike to traders acquiring ETH at lower levels, though motives vary. Some may seek short-term rebounds, while others aim to average down entry prices.
ETH Next Major Support Level $1.29K
“The average cost basis for Ethereum holders is $2.2K. The next major support level is around $1.29K, the average cost basis of whales holding over 100K Ethereum.” – By @MAC_D46035
Read more 👇https://t.co/Fr8wZouCXu pic.twitter.com/9DL6FqZsTv
— CryptoQuant.com (@cryptoquant_com) April 7, 2025
CryptoQuant data reveals most ETH holders bought near $2,200, leaving many underwater at current prices. The analytics firm identifies $1,290 as a critical support zone, where panic selling could accelerate if breached. At press time, ETH traded at $1,553, down 12% in 24 hours but above this threshold.
Whales may impact ETH’s trajectory
Those controlling over 100,000 ETH—worth roughly $155 million at current prices—could deploy capital to stem declines. Historical patterns show such entities sometimes accumulate during dips, providing liquidity when smaller traders retreat.
However, market sentiment remains fragile. ETH’s 24-hour price range ($1,473–$1,675) reflects volatility, with sellers testing lower bounds and buyers seeking bargains. The balance between these forces will determine whether $1,290 becomes a battleground or a temporary pause.
Binance’s metrics offer cautious optimism, but broader market conditions weigh on ETH. Rising buy orders alone may not reverse the trend without sustained demand. CryptoQuant’s analysis suggests $1,290 could attract institutional interest, acting as a psychological floor.
Ethereum (ETH) is currently trading at $1,546.73 USD, with a significant 24-hour trading volume of over $54.5 billion and a market capitalization of approximately $186.5 billion.
Despite this impressive volume and liquidity, ETH has experienced a sharp decline of 4.69% in the last 24 hours, and a cumulative drop of nearly 16% over the past 7 days, reflecting a period of strong bearish pressure and investor uncertainty.
The price range over the last 24 hours has been between $1,431.73 and $1,630.36, highlighting Ethereum’s recent volatility. However, over the last 30 days, ETH is still up 30%, showing resilience in the medium-term trend.
Compared to its all-time high of $4,878.26, ETH is still trading about 68% below that level, which may indicate potential upside for long-term investors depending on broader market conditions and macroeconomic sentiment.
