$ETH Waiting for the Next Step $ETH ‼️‼️

number of long and short positions in the market. When the long/short ratio of an asset is above 1, there are more long positions than short, indicating that traders are mostly betting on price increases.

Conversely, as seen in ETH, a ratio below one indicates that most traders are positioning themselves for price declines. This shows an increasing bearish sentiment and expectations of continued declines.

ETH is trading at US$2,523, holding just above the support floor at US$2,424. If selling pressure strengthens, this coin could break below this floor, potentially triggering further declines towards US$2,027.

On the other hand, a new wave of buying interest could cancel the bearish outlook. In this case, ETH may rebound and rally towards US$2,745.