Data from Binance indicates that daily trading volume reached approximately 486,000 ETH, with Ethereum trading near $2,050, while the Z-Score registered a reading of around -0.39.
This trading volume level is below the monthly average, a fact corroborated by the negative Z-Score reading. Values below zero indicate that current activity is lower than the 30-day moving average. Historically, such readings reflect periods of relative calm in liquidity and often coincide with consolidation or repositioning phases by market participants, rather than strong upward momentum.
From a price perspective, the chart shows that Ethereum has retreated from levels above $3,000 in previous months to its current range near $2,050, suggesting a clear corrective move. Interestingly, this price decline was not accompanied by a strong and sustained surge in trading volume. On the contrary, volume has remained within moderate ranges, with only temporary spikes, suggesting that the selling pressure is not driven by widespread panic but rather by a gradual unwinding process.
When a negative Z-Score reading coincides with relatively stable volume, it often reflects a market environment that tends to build a base before any subsequent significant move. In other words, the market may be in a quiet consolidation phase, or at least in the process of absorbing the previous move.
Written by Arab Chain
