Ethereum is trading below $3,700 after several days of strong volatility and increased uncertainty. Recent price action clearly reflects the struggle of buyers to defend critical demand zones as downward momentum continues to dominate short-term trends. Despite numerous recovery attempts, Ethereum has yet to reclaim significant resistance levels, raising concerns about the potential for deeper corrections in the short term.
However, solid fundamentals such as increased institutional adoption, network development, and broader market developments continue to support the bullish thesis for Ethereum in the coming months. These structural drivers suggest that the current weakness could be part of a healthy consolidation phase before the next major price increase.
Top analyst Maartunn has shared important information, showing that the net trading volume (daily) of Ethereum has turned strongly negative, signaling increasing selling pressure. This metric quantifies the disparity between buy and sell orders in the market, providing a clear view of the current sentiment of active traders.
Ethereum's Net Trading Volume Signals Bearish Dominance
Top analyst Maartunn has shared important information about the current market dynamics of Ethereum, emphasizing that the N/A volume of ETH is at -418.8 million dollars (Daily). This figure indicates that sellers N/A have sold approximately 115,400 ETH more than the amount buyers are willing to absorb through market orders. The N/A volume measures the difference between buy and sell volumes executed at market price, providing a visual insight into the aggressiveness of traders who prioritize immediate execution over optimal pricing.
Such significant negative N/A volume reflects that market participants with bearish outlooks dominate the order book, intensifying sell orders. This behavior indicates that sellers are not waiting for better prices, highlighting serious downward pressure in the short term, which could impact Ethereum's price in the near future.
However, this bearish signal comes after several weeks of strong bullish momentum, as Ethereum surged, reaching a local high of $3,940. In this context, some analysts argue that the current selling pressure is a healthier correction rather than a structural trend reversal.
Despite the negative N/A volume, Ethereum's long-term fundamentals — including institutional accumulation, network growth, and widespread adoption trends — remain intact. The current bearish dominance in the futures market serves as a short-term warning signal, but has not yet shown signs of breaking the overall bullish structure of Ethereum. Analysts will closely monitor whether ETH can stabilize and maintain important support levels in the coming days.
ETH Price Analysis: Consolidation Below Important Resistance Level
Ethereum (ETH) is trading at $3,624.67 after a week of volatility with sharp corrections and failed breakout attempts. The daily chart shows ETH struggling to reclaim the important resistance level of $3,860.80, which has become a psychological barrier after multiple rejections. Although it has bounced from a local low near $3,360, buyers are finding it difficult to maintain upward momentum above the $3,700 zone.
The 50-day moving average (MA) at $3,059.75 continues to slope upward, reflecting a long-term bullish trend, while the 100-day MA at $2,742.48 and the 200-day MA at $2,503.32 serve as key support zones. However, in the short term, price action indicates a downward trend as ETH forms lower highs, suggesting weakening bullish momentum.
Trading volume remains moderate, lacking the necessary spike to push Ethereum above resistance levels. If ETH does not soon regain the $3,860 level, a retest of the $3,360 support zone could be a signal. Conversely, a strong close above $3,860 would indicate the potential for continuing the upward trend.