Ethereum Price Volatility: A Deep Dive into Recent Market Trends
Ethereum Price Volatility: A Deep Dive into Recent Market Trends
Over the past three weeks, Ethereum (ETH) has traded within a tight range of $3,200 to $3,500, raising concerns about its future price trajectory. While ETH saw a 5.41% surge in the last 24 hours, analysts remain cautious.
Ethereum Under Pressure: On-Chain Data Analysis
CryptoQuant data reveals key indicators suggesting bearish sentiment and pressure on ETH:
- Binance Netflow: Significant ETH inflows to Binance since September 2024 outweigh outflows, indicating potential selling pressure.
- Binance Reserves: A substantial increase in ETH reserves on Binance, from 3.6 million to 4.3 million, further supports the notion of increased selling.
- Open Interest (OI): A bearish crossover of the 7 EMA and 50 EMA on the OI chart signals weakening bullish momentum.
These factors have led investors to secure profits following minor price increases, resulting in a sustained period of consolidation.



Short-Term Price Outlook: Potential Reversal?
Despite the bearish signals, short-term indicators suggest a potential price recovery:
- Coinbase Premium Index: A recent turn to positive territory suggests increased demand from US investors and institutions.
- Taker Buy-Sell Ratio: Surpassing 1.05 indicates strong buying pressure exceeding selling pressure.
- Stock-to-Flow Ratio: A significant increase to 56 suggests increased accumulation and potential price increases due to reduced supply.



If buying pressure continues, ETH could reach $3,500 and potentially challenge the $3,700 resistance level. However, failure to hold above $3,500 could result in a drop to $3,240, or even $3,000.
Codeum: Your Partner in Blockchain Security
Codeum provides comprehensive blockchain security and development services, including smart contract audits, KYC verification, custom smart contract and DApp development, and tokenomics and security consultation. We partner with launchpads and crypto agencies to ensure the security and success of blockchain projects. Contact us today to learn more about how we can help secure your next project.