ETH offered off on the weekly open, however its internet taker quantity metric turned constructive for the primary time in years. Will bulls take discover of the sign and try to press Ether worth increased?
Ether (ETH) derivatives data has begun to highlight a structural shift. After almost three years of sell-side dominance, ETH’s net taker volume has turned positive, possibly pointing to renewed interest from futures traders.
Key takeaways:
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ETH net taker volume reached $390 million since Jan. 6, the largest buy imbalance since January 2023.
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Since 2023, positive taker volume has aligned with range bottoms and the continuation of uptrends.
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ETH holds above the $3,000 support level despite a negative CVD, indicating absorption by larger players.
ETH net taker volume highlights a rare trend shift
Ether’s net taker volume has registered about $390 million in positive imbalance since Jan. 6, marking its strongest buy-side dominance since January 2023. The metric tracks whether traders are aggressively buying at market prices or selling into bids. A positive reading suggests aggressive buy-side positioning from futures traders, often associated with early trend shifts.
Historically, strong positive flips in net taker volume since 2020 have aligned with bottoming ranges or early-stage uptrends, rather than local tops. Sustained positivity typically reflects leveraged participants’ positioning for continuation, often before the broader trend becomes visible.
This shift follows years of persistent sell-side pressure, suggesting a change in futures demand rather than a short-lived squeeze. In past cycles, similar transitions preceded multi-week trend expansions.
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ETH chases underlying liquidity
Data from CryptoQuant noted showed that while ETH traded near $3,000, cumulative volume delta (CVD) remained negative at -3,676 ETH on Monday, showing short-term selling pressure. Despite this, the 30-day correlation between price and CVD stands near 0.62, indicating price action is still partially supported by the available liquidity.
This divergence may point to a corrective phase, and short-term traders appear to be taking profits. Data shows larger participants gradually repositioning, keeping ETH stable above $3,000.
From a technical standpoint, ETH has reverted to its five-month point of control from $3,050 to $3,140, in line with last week’s Cointelegraph forecast. The broader uptrend remains intact as long as daily closes hold above $3,000. A break below that level would signal a bearish shift in structure.
Hyblock data shows about $540 million in net long positions near $3,100, with another $500 million liquidity cluster below $3,000. This positioning suggests ETH price may continue to fluctuate within this range as the liquidity rebalances.
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