Ether (ETH) is showing signs of a structural shift after years of sell-side dominance in derivatives markets.
Since January 6, ETH net taker volume has registered a $390 million positive imbalance, the largest buy-side dominance seen since January 2023.
This metric tracks traders’ aggressive buying or selling, with positive readings indicating conviction and long-term positioning.
Positive Imbalance Signals Potential Upside
Historically, surges in net taker volume have coincided with bottoming ranges and early-stage uptrends rather than peaks.
The current shift indicates renewed interest from futures traders and suggests a potential continuation of ETH’s broader trend.
Cumulative volume delta (CVD) remains slightly negative at -3,676 ETH, showing short-term selling, but larger participants are gradually repositioning.
ETH continues to hold above the $3,000 support level, reflecting absorption by institutional or larger traders.
Technical Landscape and Liquidity
From a technical perspective, ETH has reverted to its five-month point of control between $3,050 and $3,140.
The broader uptrend remains intact as long as daily closes stay above $3,000, with a break below signaling potential bearish pressure.
Hyblock data shows approximately $540 million in net long positions near $3,100 and $500 million liquidity cluster just below $3,000.
This suggests the price may continue oscillating within the range as liquidity gradually rebalances.
The emerging trend in derivatives highlights the growing influence of strategic futures traders, providing insight into ETH’s likely market direction over the coming weeks.
