Featured image created by Dall.E, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"The Ethereum price recovery has been quite impressive in recent weeks, and an analyst has suggested that this might only be the beginning of a good run for the altcoin. Is The Ethereum Market Preparing For A Rally? A pseudonymous analyst has shared \u2014 via a CryptoQuant Quicktake post \u2014 an interesting on-chain insight into the price action of Ethereum. The relevant indicator here is the \u201ctaker buy\/sell ratio,\u201d which measures the taker buy and taker sell volumes for a particular cryptocurrency. When the value of this ratio is higher than 1, it implies that the taker buy volume is greater than the taker sell volume. This is often taken as a bullish signal, which indicates that investors are willing to pay a higher price for a particular asset. Related Reading: Here\u2019s Who Has Been Driving The Bitcoin Price Recovery Above $65,000 On the flip side, a taker buy\/sell ratio that is less than 1 suggests the buy volume for a cryptocurrency is greater than the sell volume. This typically signals a bearish sentiment amongst investors, as there are more sellers ready to sell their assets at a lower price. As shown in the highlighted chart, the 30-day simple moving average (SMA) of the Ethereum taker buy\/sell ratio has consistently remained below the 1 threshold over the past few months. This indicates that ETH sellers have been overwhelming buyers, resulting in an increased token supply in the open market. However, the 30-day SMA of this metric has been on a resurgence since the price of Ethereum found its support just above the $2,100 level. The Ethereum taker buy\/sell ratio recently reached a new high since mid-June, indicating that the bearish pressure might be waning. The CryptoQuant analyst noted that if the taker buy\/sell ratio continues on its upward trajectory, it could mean that the Ethereum bulls are taking over the market. Ultimately, this level of aggressive buying activity could set the stage for a price rally for the altcoin. ETH Price Overview As of this writing, the Ether token is valued at $2,677, reflecting a 0.8% decline in the past 24 hours. Despite experiencing a slight correction in the past day, the altcoin’s price is still up by more than 3% on the weekly timeframe. Related Reading: Maker Price Heats Up, Soars 12% In A Week \u2014 Is $1,850 The Next Stop? Thanks to the price rally over the past week, more Ethereum investors seem to be returning to profit. According to data from IntoTheBlock, the percentage of ETH addresses \u201cin the money\u201d went from 59% to 69%, with more than 80% of the ETH supply now in profit. Featured image created by Dall.E, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":645295,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[83531,16163,4854,1946,6931,78803],"class_list":["post-645291","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-cryptoquant","tag-eth-price","tag-ether","tag-ethereum","tag-ethereum-price","tag-ethusdt"],"acf":[],"yoast_head":"\n
Ethereum Taker Buy\/Sell Ratio Is Rising Again \u2014 What It Means For ETH Price<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n