- During the recent meeting, Ethereum saw no flurring of activity of retail investors on the spot market.
- The consistent demand for ETH in May showed that the price dip may not last long.
Ethereum [ETH] Zag saw his short -term bullish sentiment fade fade. An ETH -Walvispallet recently deposited 10,195 tokens worth $ 25.67 million to the centralized Exchange Kraken. Such movements usually indicate an intention to sell.
The recent correction of $ 2.8K was influenced by an increase in the sales volume of Taker. However, the analysis of Ambcrypto shows that buyers have remained dominant for longer periods.
Source: Cryptoquant
In a post Cryptoquant insightsCq -analyst Burrak Kesmeci It was noticed that local tops are accompanied by smooth trading activities. The most recent example was the high activity in March 2024.
In December, when ETH again tested the $ 4K marking, retail activity had not become wild. The recent recovery also not up to $ 2.8k. This implied that retail activity was missing, which in turn suggested that Ethereum was still early in his bullish phase.
Ambcrypto discovered that some other statistics supported this idea.
The sales pressure behind Ethereum has been small
The spot volume bubble market has been increased and reduced trading volume over all exchanges. In general, the rapidly increased trade volume and overheated signals in the market increased to a withdrawal.
This happened in December 2024. A repetition of this had yet to occur.
The rapid recovery from $ 1.7k to $ 2.8k since April was accompanied by a reduced trading volume. Profit activity was not beaten, which was a positive development.
Although the trade volume was low, it did not exclude potential pricebackback.
For further insight, the Spot Taker CVD, which follows the cumulative difference between market purchase and sales volume in three months, important evidence.
In May the metric remained green and rose, indicating that the purchase assignments of Taker were dominant. This suggests that, despite the cooling volume, buyers still controlled the market, so that every prices of Ethereum are likely to be shallow instead of deep.