Ethereum Faces Short-Term Selling Pressure, Shows Potential Price Drop

Bittime - Cryptoquant analyst ShayanBTC has issued a bearish warning for Ethereum (ETH) in the short term, citing data from the futures market. This analysis suggests that ETH prices may continue to fall unless there is a significant change in market sentiment.

Stalled Price Momentum

Ethereum price is currently struggling to surpass the $4,000 mark. This lack of upside momentum is concerning, and the analyst turned to futures markets for further clues.

The buy-sell ratio (analyzed as a 7-day moving average) within the Ethereum futures market shows a worrying picture. This ratio indicates the relative strength of buyers and sellers, with values ​​above 1 favoring buyers and values ​​below 1 favoring sellers.

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Sharp Decline in Purchasing Activity

The analyst highlighted that the buy-sell ratio has consistently failed to break above 1 recently and has even seen a sharp decline. This shows that most futures traders are actively selling ETH. This selling could be driven by speculation of a price drop or simply by traders taking advantage of previous holdings.

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Bearish Signals and Potential Downturn

ShayanBTC interpreted this trend as a bearish signal for Ethereum. If seller dominance in the futures market continues, the analyst predicts that the current ETH price decline may continue.

Conclusion

The analyst's observations provide valuable insight into the near-term outlook for Ethereum. While the futures market can be a useful indicator, it is important to remember that it is not always a perfect predictor of price movements. Other factors, such as news events and broader market trends, can also play an important role.

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How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via  Bittime .  Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Monitor price chart movements  of Bitcoin (BTC) ,  Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER:  This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.