Record Sell Pressure Casts Shadow Over Ethereum’s Rally

ETH’s Net Taker Volume hits near-record -$418.8 million as price retests crucial resistance near $4,000, signaling potential bearish outlook.

Key Takeaways

ETH Net Taker Volume reaches -$418.8 million, the second-largest daily sell imbalance on record.
Price currently testing major resistance zone between $3,600 and $4,000, echoing the December 2024 top.
Ethereum could fall 25%–35% toward key trendlines by September.

*ETH Net Taker Volume chart vs price. Source: CryptoQuant*

Traders Sell 115,400 More ETH Than They Buy

As of Tuesday, Cryptocurrency analytics firm CryptoQuant reported that Ethereum’s Net Taker Volume dropped to a record -$418.8 million.

This represents 115,400 more ETH sold than bought via market orders, marking the second-largest daily sell-side imbalance in history.

Net Taker Volume tracks the difference between buying and selling executed through market orders. These “taker” trades prioritize execution speed over price, often indicating urgency or fear. Significantly elevated sell-side taker volume typically suggests capitulation or heavy profit-taking.

“Such massive sell-side imbalances have historically marked local tops,” noted CryptoQuant analyst Maartunn.

Ether May Decline 25%-35% Next

*ETH/USD weekly price chart. Source: TradingView*

The latest surge in ETH sell-side pressure occurs as the price retests a historically significant distribution zone between $3,600 and $4,000.

This resistance level has frequently acted as a ceiling for ETH since 2021.

Ethereum encountered a similar scenario in December 2024. At that time, Net Taker Volume turned sharply negative while ETH approached the same $3,600-$4,000 barrier.

What followed was a sharp 66% decline. The price subsequently collapsed towards its 50-week and 200-week exponential moving averages. (Chart reference for EMA waves implied).

A similar trajectory is now possible. ETH is retesting the $3,600-4,000 resistance while Net Taker Volume remains at historically extreme negative levels.

Bearish technical signals, including potentially cooling weekly Relative Strength Index (RSI) from overbought territory, are intensifying the probability of a correction.

The convergence of negative momentum indicators suggests ETH may retreat towards its 50-week and 200-week EMAs.

Currently, these dynamic support levels are at $2,736 and $2,333, respectively. Breaking below the former would be crucial.

If such a decline materializes by September or October, it would represent a potential 25%–35% correction from current prices.