Ethereum Taker Vole Volume reaches $ 1.2b, pointing out a strong sales pressure

Ethereum merchants (ETH) are downloading positions at a fast pace, with Taker sells the volume reaching $ 1.2 billion in the last 24 hours.

The increase in sales orders coincided with a 2.4% drop in the price of ETH that raised it to $ 4,272 on Monday night, highlighting a change in feeling as long speculative positions begin to relax.

The market retreat is deepened as the September weakness returns

According to data shared in X by analyst Maartunn, the strong increase in the volume of sale of Taker is a reflection of intensifier pressure in Ethereum’s orders books, which may have caused a breakdown of important technical supports.

The Matrixport research firm highlighted in its daily market update that negotiation volumes have been reduced by half of $ 122 billion to $ 57 billion in recent days, while financing rates fell below 10%, which suggests that the appetite for the long -signed exposure is fading.

Also consider that September has historically been a soft month for the second largest cryptocurrency in the world. That is why Market analyst Benjamin Cowen argued on Monday that ETH could return to its exponential mobile average of 21 weeks about $ 3,500, repeating patterns seen in the previous Septembters.

There have been similar corrections in past cycles, as in 2017, when ETH fell more than 21% that month. In addition, in 2021, it registered a loss of 12.5% ​​before recovering new maximums later in the year.

Despite the current setback, whales and institutions remain active. A recent Arkham Intelligence report revealed that a Bitcoin whale turned the asset worth $ 1 billion in ETH and bet.

Additional data also show that ETF SPOT absorbed more Ethereum in August than those issued in the chain, the main analysts such as Anthony Sassano suggest that the long -term structural demand of ETFs, treasure bonds and tokenization projects can support the perspective of the asset even with short -term turbulence.

Price action and technical perspective

When observing the market, at the time of writing this article, Ethereum quoted at $ 4,387, 1% less in the last 24 hours and approximately 0.6% during the week, according to Coingecko. The cryptocurrency may have lost some impulse since it registered a new historical maximum (ATH) of $ 4,946 on August 24, but still exceeds the broader cryptography market, which fell 1.8% during the week.

Things are more pink in the longest time boxes, with ETH 27% in the monthly chart, while it is a higher 79% compared to the same time last year. Meanwhile, the technical graphics show that it consolidates around the range of $ 4,200– $ 4,400, an area identified as a key support of multiple analysts.

Even in the latest Cryptopotate evaluation, it was observed that a decisive break below $ 4,200 could accelerate a slide around $ 3,800. However, a rebound and a claim of $ 4,600 would probably restore the bullish impulse and open the door to test the ATH level again.