{"id":645291,"date":"2024-09-29T12:30:38","date_gmt":"2024-09-29T12:30:38","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=645291"},"modified":"2024-09-29T07:57:25","modified_gmt":"2024-09-29T07:57:25","slug":"ethereum-taker-buy-sell-ratio-is-rising-again-what-it-means-for-eth-price","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/ethereum\/ethereum-taker-buy-sell-ratio-is-rising-again-what-it-means-for-eth-price\/","title":{"rendered":"Ethereum Taker Buy\/Sell Ratio Is Rising Again \u2014 What It Means For ETH Price"},"content":{"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<\/a>.<\/span><\/p>\n

Is The Ethereum Market Preparing For A Rally?<\/b><\/h2>\n

A pseudonymous analyst has shared<\/a> \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.<\/span><\/p>\n

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.<\/span><\/p>\n

Related Reading: Here\u2019s Who Has Been Driving The Bitcoin Price Recovery Above $65,000<\/a><\/div>\n

On the flip side, a taker buy\/sell ratio<\/a> 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.<\/span><\/p>\n

\"Ethereum\"
Source: CryptoQuant<\/a><\/figcaption><\/figure>\n

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.<\/span><\/p>\n

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.<\/span><\/p>\n

The CryptoQuant<\/a> 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 <\/span>aggressive buying activity could set the stage for a price rally for the altcoin.<\/span><\/p>\n

ETH Price Overview<\/b><\/h2>\n

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.<\/span><\/p>\n

Related Reading: Maker Price Heats Up, Soars 12% In A Week \u2014 Is $1,850 The Next Stop?<\/a><\/div>\n

Thanks to the price rally over the past week, more Ethereum investors seem to be returning to profit. According to data from IntoTheBlock<\/a>, 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.<\/span><\/p>\n

\"Ethereum\"
The price of ETH at $2,674 on the daily timeframe | Source: ETHUSDT chart from TradingView<\/a><\/figcaption><\/figure>\n
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":"\nEthereum Taker Buy\/Sell Ratio Is Rising Again \u2014 What It Means For ETH Price<\/title>\n<meta name=\"description\" content=\"The Ethereum price recovery has been quite impressive, and an analyst has suggested that this might only be the beginning for the altcoin.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. \u201cLooking\u201d is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi\u2019s favorite part - in fact, far from it. Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. \u201cThis emphasizes the intricacies of blockchain technology and the cryptocurrency market,\u201d he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi\u2019s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K. Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi\u2019s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings. Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that \u201cwhatever is worth doing at all is worth doing well.\u201d Hence, you will always find him striving to be better. Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.","sameAs":["https:\/\/www.linkedin.com\/in\/opeyemi-sule-027bb5227","https:\/\/x.com\/https:\/\/twitter.com\/fwOpeyemi"],"url":"https:\/\/shenyangcang.com\/author\/oluwatosino\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Taker Buy\/Sell Ratio Is Rising Again \u2014 What It Means For ETH Price","url":"http:\/\/shenyangcang.com\/news\/ethereum\/ethereum-taker-buy-sell-ratio-is-rising-again-what-it-means-for-eth-price\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/shenyangcang.com\/news\/ethereum\/ethereum-taker-buy-sell-ratio-is-rising-again-what-it-means-for-eth-price\/"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/09\/2024-09-29-03.11.22.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/09\/2024-09-29-03.11.22.jpg?fit=1024%2C1024"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Opeyemi Sule"}],"creator":["Opeyemi Sule"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["cryptoquant","eth price","ether","ethereum","ethereum price","ethusdt"],"dateCreated":"2024-09-29T12:30:38Z","datePublished":"2024-09-29T12:30:38Z","dateModified":"2024-09-29T12:30:38Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Taker Buy\\\/Sell Ratio Is Rising Again \\u2014 What It Means For ETH Price\",\"url\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/ethereum\\\/ethereum-taker-buy-sell-ratio-is-rising-again-what-it-means-for-eth-price\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/ethereum\\\/ethereum-taker-buy-sell-ratio-is-rising-again-what-it-means-for-eth-price\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/2024-09-29-03.11.22.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/2024-09-29-03.11.22.jpg?fit=1024%2C1024\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Opeyemi Sule\"}],\"creator\":[\"Opeyemi Sule\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"cryptoquant\",\"eth price\",\"ether\",\"ethereum\",\"ethereum price\",\"ethusdt\"],\"dateCreated\":\"2024-09-29T12:30:38Z\",\"datePublished\":\"2024-09-29T12:30:38Z\",\"dateModified\":\"2024-09-29T12:30:38Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/09\/2024-09-29-03.11.22.jpg?fit=1024%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/645291"}],"collection":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/users\/590"}],"replies":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/comments?post=645291"}],"version-history":[{"count":4,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/645291\/revisions"}],"predecessor-version":[{"id":645312,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/645291\/revisions\/645312"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media\/645295"}],"wp:attachment":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media?parent=645291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/categories?post=645291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/tags?post=645291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}