Ethereum Cracks Under $2,500 — Selling Tsunami Signals Bears Are Taking Control
Ethereum's price just got sucker-punched below $2,500—and the sell volume tells a brutal story. Here’s why the bulls are sweating.
### The Breakdown: Bears Outmuscle Buyers
No sugarcoating it: ETH’s drop isn’t a dip, it’s a nosedive. Trading desks are flashing red as sell orders swamp the order book. Forget 'buying the dip'—right now, traders are racing to offload bags before the next leg down.
### The Big Picture: A Market on Edge
This isn’t just about Ethereum. The entire crypto complex is twitchy, with BTC dominance creeping up as alts bleed out. When ETH stumbles, the altcoin casino feels the tremors—just ask the degens holding meme coins.
### The Silver Lining? Good Luck Finding One
Sure, 'oversold' RSI screams bounce, but with macro winds shifting and leverage getting torched, hope isn’t a strategy. Pro tip: Watch the $2,400 level. If that goes, fasten your seatbelts.
### Closing Thought: Same Old Story
Crypto’s 'institutional adoption' narrative meets reality—again. When the chips are down, everyone’s a day trader. Funny how that works.
ETH Price At Risk As Taker Sellers Unload Their Tokens
In a recent post on the social media platform X, on-chain analyst Maartunn revealed that a set of Ethereum traders might be on the move again. This on-chain observation revolves around a jump in the Taker Sell Volume, a metric that estimates the total volume of sell orders filled by takers in perpetual swaps of a specific cryptocurrency (ETH, in this case).
To provide some context, a taker refers to a market participant who places an order matched with an existing order on the order book. With this definition, the Taker Sell Volume represents the total amount of a cryptocurrency offloaded or sold by these market participants within a specific period.
In the post on X, Maartunn highlighted in his post that sell pressure is mounting in the ethereum market, as taker sellers are beginning to dominate the buyers on exchanges. According to data from CryptoQuant, the ETH Taker Sell Volume on all centralized exchanges surged to around $321.3 million within a minute on Friday.
Typically, significant spikes in the Taker Sell Volume have often been followed by a period of downward pressure on the price of Ethereum. If history is anything to go by, investors might expect the second-largest cryptocurrency to struggle over the next few days.
Ethereum Price Overview
As of this writing, the price of ETH sits just above the $2,410 level, reflecting an almost 5% decline in the past 24 hours. According to data from CoinGecko, the altcoin is down by nearly 6% over the last seven days.
The Ethereum price has been stuck in consolidation within the $2,500 – $2,800 range over the past few weeks. With the token’s price now beneath a major support in $2,500 and the rising bearish pressure, the odds of ETH embarking on a sustained rally look slimmer.
