Ethereum: While “sell orders” dominate market, positive sentiment lingers

aggressiveness of market sellers and buyers for a specified crypto asset.

The metric calculates the difference between the ‘Taker Buy Volume’ and ‘Taker Sell Volume’ and provides insights into the behavior of market participants who use market orders. Market participants who use market orders are willing to buy or sell at any price, regardless of the cost or fees involved. However, their main priority is to exit their position, according to Maartunn.

With ETH’s Net Taker Volume at its deepest negative value since May 2022, “traders on Ethereum are escaping the market through market orders, which is pushing the price down,” Maartuun noted.“The strongest signal of the indicator is when prices are still relatively high, but Net Taker Volume is deeply red. And that is where Ethereum is currently.

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Ethereum market weakened, but benefits can be made at these levelsDisclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion ETH was in a bearish structure at press time. Further plunge could be likely if BTC drops below the $21K zone. Ethereum [ETH] plunge could extend if the $1,540 support fails to hold. However, […] I can afford to move my ERC20 coins for one. gwei
Source: CryptoAmb - 🏆 22. / 68 Read more »