- Ethereum selling pressure dominated on Binance
- ETH is down 18.61% over the past month.
Since reaching a recent high of $3746 a week ago, Ethereum [ETH] has experienced strong downward pressure.
During this period, ETH fell to a local low of $3,157. Although the altcoin has posted moderate gains, it is still declining.
At the time of writing, Ethereum was trading at $3,196, down 2.17% on the daily charts. ETH is also down 12.67% on the weekly charts and 18.61% on the monthly charts.
This decline in the ETH charts is largely attributed to increased selling pressure, according to CryptoQuant.
Ethereum selling pressure dominates
According to CryptoQuant According to analysis, ETH is experiencing strong selling pressure on Binance. As such, Ethereum has been experiencing significant selling pressure on the exchange since November 2024.
Source: CryptoQuant
The increasing dominant selling pressure on Binance is reflected in ETH’s Taker Buy/Sell ratio. This measure has remained negative since November 2024, indicating a greater number of sell orders than buy orders.
During this period, the Taker Buy/Sell Ratio has fallen to levels not seen since August 2023, reflecting the prevailing bearish sentiment.
As buyers tried to take control in December, sellers quickly regained the upper hand, reinforcing the downward momentum.
The continued selling pressure in recent months underlines a market that is both bearish and cautious.
On the other hand, a rising sales ratio offers a potential buying opportunity for long-term holders.
Impact on ETH price charts?
As noted above, Ethereum is experiencing strong selling pressure, which has negatively affected the altcoin’s price movements.
Source: Tradingview
For starters, we may see increased selling pressure now that ETH Chaikin Money Flow (CMF) has turned negative. Now that the CMF is at -0.08, it means that sellers are dominating the market.
This market behavior is confirmed by a declining Relative Strength Index (RSI), which has fallen to near oversold territory and settled at 38. Such a dip implies that sellers are in control of the market.
Source: IntoTheBlock
Looking further, Ethereum inflows onto the exchanges have skyrocketed over the past week. This has increased from -50.77k to 103.77k, indicating that there are more ETH inflows to exchanges than outflows.
Typically, higher inflows into the stock markets precede greater selling pressure, as investors tend to sell when they make these transfers.
Source: CryptoQuant
Ethereum’s Estimated Leverage Ratio (ELR) has seen a sustained increase over the past month. When the ELR rises during a downtrend, it indicates bearish sentiment, increasing the risk of a long-term squeeze.
If prices fall further, long positions may be liquidated, resulting in a long squeeze and further price declines.
Read Ethereum’s [ETH] Price forecast 2025–2026
In conclusion, Ethereum is under strong selling pressure as bearish sentiments persist. If current market conditions persist, ETH could fall to $3,030 and possibly fall below $3,000 to find support around $2,810.
However, if the downtrend is exhausted and a reversal occurs, the altcoin could reclaim $3,300.
