ETH’s buying pressure reached $5.5B as the lockout neared
ETH derivatives are showing strong buyer dominance, leading traders to target $2,500 to $2,600 in the next critical rally.
Ether (ETH) futures on Binance rose to nearly two-month highs as aggressive buyers entered the market last week. The amount bought has topped $5 billion, and the current setup suggests that the ETH rally is set to continue.
On Binance, 24-hour cumulative net receipts reached $5.5 billion, up 72 percent from $3.2 billion at the beginning of the month. The gauge tracks the difference between market buy and sell orders, showing who is driving the price action.
The 30-day moving average has remained positive since March 1, returning to levels last seen in July 2022. The positive readings indicate a persistent bullish attack.
Amr Taha, a crypto analyst, said that the buying increased at the local highs, indicating stronger confidence from participants. This type of sustained demand keeps buyers in control of the short-term price direction.
Related: The Quantum Gap: Why Bitcoin and Ethereum Are Taking Different Paths on Security
Ether's $2,400 resistance hits liquidity gap.
The price of ETH is squeezing at the $2,400 level, a resistance that has been tested three times since February 6. Each rejection reduced the density of sales orders. A clean move above this level would expose the daily fair value gap of $2,475–$2,634.
A gap created during the February selloff indicates an area where price moves quickly and leaves unfilled orders. ETH price may visit these zones to adjust the flows as the momentum grows.
Ether is also trying to retrace the 100-day Exponential Moving Average (EMA), a level associated with trend-following levels. Stability above this trend will strengthen the rally to the upside. The 200-day EMA is hovering near the upper end of the disparity zone near $2,634, creating a liquid technical overlap.
Derivatives adds context to the setting. Cumulative Delta (CVD) futures continued to rise to $12.6 billion, while funds volume remained neutral.
This indicates that utility does not expand significantly with cost. The balance between buyers' interest and measured interest focuses the $2,475–$2,634 zone as a near-term pool of liquidity.
Related: Singapore's OCBC launches tokenized gold fund on Ethereum and Solana
This article is prepared in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and transactions involve risk; Readers are encouraged to do independent research before making any decisions. Cointelegraph makes no warranty as to the accuracy or completeness of the information provided, including forward-looking statements, and shall not be liable for any loss or damage arising from reliance on such content.
