$ETH Network-wide account long/short ratio: 1.96 (long 66.2% / short 33.8%).
The long/short ratio reflects account preferences, not the amount of capital involved, so it should be considered alongside open interest.
After a sharp move, the market usually enters a period of consolidation. How that consolidation unfolds affects the direction of the next move.

Beware of risks and make your own judgments.