Ethereum’s (ETH) $4,000 Rally Faces Resistance Amid Increased Sell Orders
Leading altcoin Ethereum (ETH) has actually seen an amazing spike in the previous week. Its worth has actually climbed up almost double digits and presently trades at $3,672.
Hopes of a continual rally towards the $4,000 mark might deal with headwinds as a substantial boost in sell orders has actually been observed in the coin's futures market.
Ethereum Sellers Dictate Price Trends
CryptoQuant's information reveals a rise in sell orders in the ETH futures market, with its taker buy-sell ratio staying listed below one given that January 4. Presently, the ratio stands at 0.84.
This metric tracks the percentage of buy orders to offer orders in the futures market. A ratio listed below one signals more sell orders being performed, showing a shift in market belief from bullish to bearish. Th...