Has Ethereum Reached a Bottom?
Ethereum's price is currently hovering around $3,230 after bouncing off the $3,100 area, following rejection from the resistance zone near $3,470 and several key moving averages (EMAs). This movement has sparked speculation that selling pressure is easing and the market is forming a new price bottom.
One important signal comes from Net Taker Volume data on the Binance exchange. This indicator measures the difference between buyers and sellers using market orders. The figure has improved, from around -$500 million in October—which triggered a major ETH distribution—to around -$138 million. While still negative, this narrowing indicates that selling pressure is easing and buyers are starting to return.
According to CryptoQuant contributor Maartunn, this pattern—Net Taker Volume improving while the price is at a lower level—often appears near market bottoms. This means that, historically, conditions like the current one have often been the starting point for a new rally, although there are no guarantees.
This view aligns with comments from BitMine Chairman Thomas Lee, who believes Ethereum has found a bottom and that his company is actually increasing buying activity. If this buying flow continues and selling pressure subsides, the potential for ETH's price to rise remains open, especially if overall crypto market sentiment improves. (asd)
Source: Newsmaker.id
