Ethereum Futures Volume Soars 72% to $5.5 Billion
Data shows that the 24-hour cumulative net taker volume on Binance reached $5.5 billion, marking a 72% increase from $3.2 billion earlier in the month. This metric measures the gap between market buy and sell orders, helping indicate which side is influencing price action.
The 30-day average has remained in positive territory since March 1, returning to levels last observed in July 2022. These sustained positive readings reflect ongoing buyer dominance in the market. Crypto analyst Amr Taha explained that when the buying spikes near local highs, it signals stronger conviction from participants. The sustained demand of this kind often keeps buyers in control of the short-term price direction.
Key resistance and liquidity zones ahead
Ether’s price is currently consolidating below the $2,400 level, which has acted as resistance since being tested three times from Feb. 6. Each rejection appears to have reduced the concentration of sell orders above, potentially weakening this barrier.
A decisive move beyond $2,400 could open the path toward the $2,475–$2,634 range, where a daily fair-value gap exists. This gap formed during February’s sell-off, when price moved rapidly and left unfilled orders behind. As momentum builds, price may revisit this zone to rebalance market activity.
Technical indicators and derivatives positioning
Ether is also attempting to reclaim its 100-day exponential moving average (EMA), a level often linked to trend continuation. Holding above this indicator could support further upward movement. Meanwhile, the 200-day EMA is approaching the upper boundary of the imbalance zone near $2,634, aligning with a key liquidity area.
In derivatives markets, the futures cumulative volume delta (CVD) is trending higher toward $12.6 billion, while funding rates remain close to neutral. This suggests that leverage has not increased aggressively alongside price.
The balance between steady demand and controlled leverage keeps the $2,475–$2,634 range in focus as an important near-term liquidity zone.
Sources:
https://cryptoquant.com/analytics/query/68963f401d0fc963522e73bc?v=68963f401d0fc963522e73be
https://cryptoquant.com/analytics/query/63fd295989ce9d0917992af3?v=63fd295989ce9d0917992af5