Ethereum's price is trading at around $1,947, near the lower end of its weekly range, following a 35% monthly decline. Data from Binance's Taker Buy/Sell Ratio indicates a potential shift, with the metric moving toward neutral after weeks of sell-side pressure. A breakout above $2,200 could signal a trend reversal.
Ethereum (ETH) is currently priced at $1,947, reflecting a 4% drop over the past 24 hours. This places it close to the bottom of its seven-day range, which spans from $1,815.54 to $2,099.16. The cryptocurrency has experienced a sharp 35% decline over the last month and remains approximately 60% below its all-time high of $4,946 reached in August.
Daily trading volume stands at $22.5 billion, a 25% decrease from the previous session, suggesting reduced market participation as prices hover near recent lows. Traders appear cautious, contributing to a sideways drift rather than aggressive movements.
A report from CryptoQuant contributor Darkfost, dated February 27, highlights shifts in the Binance Taker Buy/Sell Ratio, which measures aggressive futures orders. This ratio tracks whether market buys or sells dominate: above 1 indicates buyer pressure, below 1 shows sellers in control. Earlier, the monthly ratio fell to 0.95 and the weekly average to 0.92, coinciding with Ethereum's price rollover amid persistent futures selling. With derivatives volume around $65 billion, these flows significantly influence spot prices.
Recently, the weekly ratio has stabilized near 1.0, with daily spikes exceeding 1.12, and the monthly figure rising to 0.99. This suggests diminishing sell-side imbalance and potential buyer control in short-term positioning, which could support price stabilization.
Technically, Ethereum's chart shows a bearish structure with lower highs and lows since breaking below the $3,000–$3,200 zone. Price is compressing between $1,950 and $2,000. Bollinger Bands have narrowed after widening during the drop to near $1,850, indicating cooling volatility. The price trades below the middle band at $1,980–$2,000, acting as resistance. The relative strength index (RSI) has rebounded to around 40 from oversold levels of 25–30, showing slight momentum improvement but not yet above 50 for stronger bullish signs.
Support levels are at $1,850–$1,880, with further downside to $1,700–$1,750 if breached. Upside hurdles include $2,000 initially, followed by $2,120–$2,200. A move above $2,200–$2,300 would challenge the downtrend.
