The post Ethereum Faces Continued Selling Pressure on Binance Amid Persistent Bearish Sentiments appeared on BitcoinEthereumNews.com.

Ethereum continues to face significant selling pressure, predominantly on Binance, reflecting a persistent bearish sentiment in the market. This tumultuous trend has led to a notable decline in Ethereum’s value, with recent reports indicating an 18.61% drop over the past month. “The sustained selling pressure highlights a market both bearish and cautious,” noted an analyst from CryptoQuant. Ethereum faces ongoing selling pressure, impacting prices significantly; is there hope for recovery amidst bear market sentiments? Ethereum’s Selling Pressure Dominates Market Trends Recent analyses indicate that Ethereum is grappling with pronounced selling pressure, especially on the Binance platform. According to CryptoQuant’s research, this trend has been particularly evident since November 2024, where ETH’s trading behavior has reflected significant declines. As observed, the Taker Buy/Sell Ratio—a critical metric in analyzing market sentiment—has remained firmly negative for an extended period. This indicates that sell orders have vastly outnumbered buy orders throughout the recent downturn. Such a scenario points toward a prevailing mood of pessimism among investors, as the market grapples with fear and uncertainty. The Broader Implications of Selling Pressure on ETH Prices The persistent selling pressure is adversely affecting Ethereum’s price movements. Current data reveals that Ethereum is trading at approximately $3,196, which marks a 2.17% drop within a single day. The bearish trend has shown significant momentum with a monthly decline of 18.61%, originating from a recent high of $3,746. Quantifying this pressure, the Chaikin Money Flow (CMF) has also flipped negative, confirming the dominance of sellers in the current market scenario. Coupled with a declining Relative Strength Index (RSI), which hovers around 38, the indicators suggest that ETH may be close to oversold territory. The increases in inflow into exchanges—soaring from -50.77k to 103.77k—further underline the potential for increased selling pressure as investors often liquidate assets shortly after transferring their holdings…

---

Filed under: News - @ January 13, 2025 9:18 pm