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Ethereum Taker-Buy-Sell Ratio Soars Despite ETH’s Sideways Movement

Ethereum Taker-Buy-Sell Ratio Soars Despite ETH’s Sideways Movement
According to recent data, despite Ethereum's sideways price movement in recent weeks, futures traders remain confident in its potential for upside. Ethereum has been trading within a narrow range, facing resistance at $2,799 and finding support at $2,585. However, futures traders have increased their buy orders, with the Taker-Buy-Sell Ratio reaching its highest point since January, indicating optimism among traders. Additionally, ETH's funding rate remains positive, suggesting a market bias towards bullish sentiment. If ETH breaks above resistance, it could reach $2,967 and potentially even $3,202. Conversely, a break below support could lead to a decline to $2,467, or even $2,150.

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