Ethereum’s price has experienced moderate declines over the past week, dropping around 5% after a period of notable gains in previous months. At the time of writing, ETH is trading near $3,633, fluctuating between the $3,500 and $3,700 range over the past day.
Darkfost emphasized that the behavior of the futures market has shifted notably over the past few weeks. According to data from Binance, Ethereum’s taker buy/sell ratio has dropped to 0.87, one of the lowest levels observed this year.
Additionally, the seven-day and 30-day simple moving averages (SMAs) have started to trend downward, which could be a sign of slowing market momentum.
This bullish view aligns with other optimistic forecasts on X, where traders speculate that Ethereum could revisit or surpass its previous all-time highs once key resistance levels are cleared and broader market demand returns.
However, for now, the lack of strong futures buying activity and persistent selling pressure in derivatives markets appear to be capping short-term gains.
Featured image created with DALL-E, Chart from TradingView
