A notable shift in sentiment has occurred in the futures market following Ethereum's recent price surges. This chart illustrates the 30-day moving average of the Ethereum Taker Buy-Sell ratio, a crucial metric for gauging sentiment in futures trading. This metric helps discern whether buyers or sellers are executing more aggressive orders collectively.
As depicted in the chart, the taker buy-sell ratio has undergone a substantial surge, surpassing the value of 1. This surge signifies a prevalent bullish sentiment in the futures market. This upward trend aligns seamlessly with Ethereum's recent impulsive surge, propelling it toward the $1.7K resistance level.
However, given the significant surge in this metric, it is anticipated that the market might require a temporary pause in the trend. This pause could lead to a short-term correction stage before the market initiates another substantial upward movement. In the upcoming days, it's crucial to observe if the ratio maintains this momentum or reverses. If the bullish momentum wanes, it could potentially lead to increased market volatility.
Written by Greatest_Trader
