Ethereum Market: Binance Sell Pressure Eases as Traders Seek Potential Floor

Ethereum saw a slight ease in selling pressure on Binance, indicated by the taker buy-sell ratio turning positive over a seven-day average. This shift coincided with a surge in trading volume, reaching $52.37 billion, fueled by traders accumulating ETH at lower levels. While this move hints at potential stabilization, market volatility remains, as prices dropped to $1,473 before stabilizing around the $1,550 mark. Analysts believe this dip could attract whales seeking to stabilize prices and act as a floor for further price increases. 24-hour price range highlights Ethereum’s volatility between $1,431.73 and $1,630.36.