Ether Taker Volume Hits 3-Year High as ETH Faces Key Support Test

Ethereum is showing early signs of a potential market bottom as a key onchain indicator reaches levels not seen since 2022. The 30-day average of positive net taker volume climbed to $142 million on March 17, reflecting stronger activity from aggressive buyers in derivatives markets.

Rising Taker Volume Signals Possible Market Bottom

The surge in net taker volume mirrors patterns observed during previous correction phases, including mid-2022 and 2020, when traders began repositioning near cycle lows. A positive reading suggests buyers are becoming more active, even as overall price momentum remains weak. At the same time, the Coinbase premium index has stayed positive since late February, indicating steady spot demand from US-based investors.

Despite these signals, analysts note that price movement has not fully responded. Market participants appear cautious, with buyers hesitant to enter at current levels, suggesting demand remains limited.

Key Price Levels to Watch for ETH

Ethereum is currently trading near a critical support zone. The $2,100 to $2,000 range represents internal liquidity, while a larger cluster of positions sits around $1,976. A breakdown below these levels could trigger liquidations and push prices lower, with $1,905 emerging as a deeper support zone.

Holding above $2,000 remains crucial. A sustained move below this threshold may shift market sentiment and increase the risk of further downside in the near term.

Disclaimer

This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.