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

By: beincrypto|2025/05/04 12:30:01
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.

-- Price

--

You may also like

Stablecoins are the "royalists" of the crypto world: Open USD brings the old currency system into play

The emergence of Open USD has shifted the competition for stablecoins from the market struggle of crypto startups to a battle for infrastructure involving traditional finance, payment networks, technology platforms, and public chain ecosystems.

Semiconductor stocks plummet, yet Anthropic wants to create a 2nm chip

Abandoning TSMC and teaming up with Samsung. Anthropic launches a self-developed 2nm chip program, challenging Nvidia and starting a battle to break through computing power costs.

Where is Zhao Changpeng's billion-dollar investment going? YZi Labs' investment landscape fully revealed

Zhao Changpeng's billion-dollar new "family office" YZi Labs investment landscape revealed: 70% of the funds are committed to the crypto ecosystem, while 30% are cross-industry bets on AI and biotechnology, launching a new capital experiment in the post-Binance era.

Ethereum Foundation Report: A Basic Guide to Ethereum for Governments and Financial Institutions

The Ethereum Foundation has released this non-technical introductory report aimed at government officials, central banks, regulators, and corporate decision-makers, explaining how Ethereum works, how it is governed, how it differs from other blockchains, and how institutions and governments are alre...

A pre-announced harvesting case: After the cryptocurrency price dropped by 99%, the public chain Saga exited to transform into AI

True failure often isn't a single price drop, but rather a pricing mechanism that repeatedly rewards those who tell stories while repeatedly punishing those who believe in the stories.

When American giants collectively "defect" from Chinese AI models

Coinbase CEO publicly stated: the company has fully switched its AI to a Chinese model, cutting expenses in half while usage has doubled. Snowflake and Lindy are also doing the same thing—an unnoticed "AI model migration wave" is happening.

Contents

Popular coins

Latest Crypto News

Read more
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com