Ethereum (ETH) Bulls Regain Strength as Buying Pressure Hits Monthly High

By: beincrypto|2025/05/04 20:30:01
0
Share
copy
The leading altcoin ETH has bucked the broader market downturn over the past 24 hours, posting modest gains of around 1%. At press time, the coin trades at $1,842.This comes as a key momentum metric — the taker buy-sell ratio—surges to its highest level in 30 days, signaling renewed bullish pressure in the asset’s futures market.Traders Eye ETH Upside as Buy Pressure and BuildAccording to CryptoQuant, ETH’s taker-buy-sell ratio is currently at 1.08, marking its highest value since early April.Ethereum Taker Buy Sell Ratio. Source: CryptoQuantThis metric measures the ratio between the buy and sell volumes in ETH’s futures market. A value above 1 suggests that more traders are aggressively buying ETH contracts than selling, while values below 1 indicate dominant sell pressure. At 1.08, ETH’s taker buy-sell ratio clearly tilts in favor of buyers, reflecting increasing confidence among traders that prices may continue rising.Moreover, the altcoin’s Relative Strength Index (RSI) continues to trend upward, supporting this bullish narrative. At press time, it is at 58.39 and climbing. Ethereum RSI. Source: TradingViewThe RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100, with values above 70 indicating that the asset is overbought and due for a decline. Conversely, values under 30 signal that the asset is oversold and could witness a rebound. ETH’s RSI reading confirms the strengthening bullish bias toward the altcoin, reinforcing the view that it could be primed for further upside.ETH Builds Strength Above Short-Term SupportAt its current price, ETH rests above its 20-day exponential moving average (EMA), which forms dynamic support below its price at $1,770. The 20-day EMA measures an asset’s average price over the past 20 trading days, giving weight to recent prices. When an asset trades above this key moving average, it signals short-term bullish momentum. This indicates that recent prices are trending higher than the average over the past 20 days. Traders often view this as a sign of underlying strength or an early uptrend.Therefore, ETH could maintain its rally toward $2,027 if buying pressure gains momentum. Ethereum Price Analysis. Source: TradingViewOn the other hand, if buying activity wanes, the coin could lose recent gains, break below the 20-day EMA, and fall toward $1,385.The post Ethereum (ETH) Bulls Regain Strength as Buying Pressure Hits Monthly High appeared first on BeInCrypto.

You may also like

Stop Talking About Gold, Bitcoin Is Not a Safe Haven Asset

One cannot rely on macro narratives like "Gold Rotation" to determine whether Bitcoin has bottomed. True bottom signals will only appear during position unwinding and extreme pessimistic sentiment.

Aave Founder: What Is the Secret of the DeFi Lending Market?

When on-chain lending becomes significantly cheaper to operate end-to-end compared to traditional lending, mass adoption becomes not a question of if, but of when.

The Trader's Playbook: 7 Market Cycle Lessons From LALIGA’s 90 Minutes

What do LALIGA matches teach about crypto markets? Learn how consolidation, breakouts, and late-cycle volatility shape disciplined trading decisions.

How Smart Money Tracker Survived Live AI Trading at WEEX AI Hackathon

Discover how WEEX AI Trading Hackathon tested strategies with real capital—no simulations. See how Smart Money Tracker survived flash crashes and leveraged 18x in live markets.

80% Win Rate to 40% Drawdown: An AI Trader's Brutal Recalibration at WEEX AI Wars

Dive into the technical blueprint of an AI trading system built on LLaMA reasoning and multi-agent execution. See how Quantum Quaser uses confidence thresholds & volatility filters at WEEX AI Wars, and learn the key to unlocking 95% win rate trades.

AI Trading Strategy Explained: How a Beginner Tiana Reached the WEEX AI Trading Hackathon Finals

Can AI trading really outperform human emotion? In this exclusive WEEX Hackathon finalist interview, discover how behavioral signal strategies, SOL trend setups, and disciplined AI execution secured a spot in the finals.

Popular coins

Latest Crypto News

Read more