{"id":450943,"date":"2024-12-10T21:00:35","date_gmt":"2024-12-10T15:30:35","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=450943"},"modified":"2024-12-10T18:30:40","modified_gmt":"2024-12-10T13:00:40","slug":"ethereum-shows-high-demand-but-how-low-can-eth-go-before-a-reversal","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/ethereum-shows-high-demand-but-how-low-can-eth-go-before-a-reversal\/","title":{"rendered":"Ethereum shows high demand, but how low can ETH go before a reversal?"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">Ethereum orderbook ratio indicated low supply and high demand at $3886.<\/span><\/em><\/li>\n<li><em><span style=\"font-weight: 400;\">ETH could revisit $3500 at the 200EMA before rally continuation.<\/span><\/em><\/li>\n<\/ul>\n<p><a href=\"https:\/\/ambcrypto.com\/category\/ethereum-news\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Ethereum [ETH]<\/a> showed notable 10% bid imbalance within the 0-5% depth range of the order book, signaling a potential supply shortage and demand at the price level around $3,886.76.<\/p>\n<p>These price points favored bids by 10%, suggesting a stronger buying interest than selling pressure.<\/p>\n<p>This imbalance indicated bullish sentiment as more traders were willing to purchase ETH at or above that market price, possibly driving prices higher if the trend persists.<\/p>\n<figure id=\"attachment_450951\" aria-describedby=\"caption-attachment-450951\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeWW0qJW8AAxTT4-scaled.jpg\"><img decoding=\"async\" class=\"wp-image-450951 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeWW0qJW8AAxTT4-scaled.jpg\" alt=\"ETH\" width=\"2560\" height=\"1399\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeWW0qJW8AAxTT4-scaled.jpg 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeWW0qJW8AAxTT4-300x164.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeWW0qJW8AAxTT4-1024x560.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeWW0qJW8AAxTT4-768x420.jpg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeWW0qJW8AAxTT4-1536x840.jpg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeWW0qJW8AAxTT4-2048x1119.jpg 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeWW0qJW8AAxTT4-1200x656.jpg 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-450951\" class=\"wp-caption-text\">Source: Hyblock Capital<\/figcaption><\/figure>\n<p>Additionally, there were spikes in volume of trades correlating with significant price movements, both upward and downward.<\/p>\n<p>The increase in bid dominance along with high trade volumes points to possible continued bullish momentum for ETH. Historical trends show such imbalances often precede price increases.<\/p>\n<h2><strong>Inflow volume into exchanges<\/strong><\/h2>\n<p>However, ETH saw a surge in inflow volume into exchanges as it rose by 208.96% over the past 24 hours. This suggested that investors could be moving ETH to exchanges possibly to take profits or prepare for potential selling.<\/p>\n<p>The weekly change showed a decrease of 17.57% in inflow volume, indicating less ETH was moved to exchanges compared to the previous week, which could signify a reduction in selling pressure.<\/p>\n<figure id=\"attachment_450989\" aria-describedby=\"caption-attachment-450989\" style=\"width: 639px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/74580bf7-2e43-40ac-9ccb-f52bbb15c0fa.jpg\"><img decoding=\"async\" class=\"wp-image-450989 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/74580bf7-2e43-40ac-9ccb-f52bbb15c0fa.jpg\" alt=\"\" width=\"639\" height=\"421\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/74580bf7-2e43-40ac-9ccb-f52bbb15c0fa.jpg 639w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/74580bf7-2e43-40ac-9ccb-f52bbb15c0fa-300x198.jpg 300w\" sizes=\"(max-width: 639px) 100vw, 639px\" \/><\/a><figcaption id=\"caption-attachment-450989\" class=\"wp-caption-text\">Source: IntoTheBlock<\/figcaption><\/figure>\n<p>Conversely, monthly change increased by 61.49%, suggesting that over the past month, there had been generally higher inclination to transfer ETH to exchanges than in the preceding periods.<\/p>\n<p>The influx could temper the bullish outlook suggested by the orderbook ratio, which indicated low supply and high demand.<\/p>\n<p>As inflows suggest potential selling pressure, it could lead to a temporary decline in ETH prices despite underlying demand signals.<\/p>\n<h2><strong>How low can ETH go before bottoming?<\/strong><\/h2>\n<p>With that in mind, ETH could be poised for a small pullback before reversing for a bullish trend continuation as it traded around $3689, following a descent from the higher resistance near $4,082.<\/p>\n<p>Trading volume increased during sell-offs, hinting at decline but with the RSI near the oversold zone, now below 30, suggested an overextended bear move that could lead to a reversal if buyers step in.<\/p>\n<p>ETH falling below 20EMA and 50EMA signaled short-term bearish momentum, contrasting with the potential long-term support provided by the 200EMA.<\/p>\n<figure id=\"attachment_450958\" aria-describedby=\"caption-attachment-450958\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeailQQXUAA5Z_c.png\"><img decoding=\"async\" class=\"wp-image-450958 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeailQQXUAA5Z_c.png\" alt=\"ETH\" width=\"2560\" height=\"1362\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeailQQXUAA5Z_c.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeailQQXUAA5Z_c-300x160.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeailQQXUAA5Z_c-1024x545.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeailQQXUAA5Z_c-768x409.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeailQQXUAA5Z_c-1536x817.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeailQQXUAA5Z_c-2048x1089.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeailQQXUAA5Z_c-1200x638.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-450958\" class=\"wp-caption-text\">Source: Trading View<\/figcaption><\/figure>\n<p>Ethereum showed signs of testing a key support level at the 200EMA around $3,500, with potential for reversal indicated by an oversold RSI.<\/p>\n<p>If this level holds, a rally towards higher levels could be anticipated as funding rates hit a multi-month high, indicating increased trader confidence and a potential anticipation of higher prices.<\/p>\n<p>The funding rates\u2019 spike above 0.04% coinciding with price swings represented a sharp increase in trader leverage, often preceding price volatility.<\/p>\n<figure id=\"attachment_450976\" aria-describedby=\"caption-attachment-450976\" style=\"width: 1780px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeXcLPyXcAAG62u.jpg\"><img decoding=\"async\" class=\"wp-image-450976 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeXcLPyXcAAG62u.jpg\" alt=\"ETH\" width=\"1780\" height=\"996\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeXcLPyXcAAG62u.jpg 1780w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeXcLPyXcAAG62u-300x168.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeXcLPyXcAAG62u-1024x573.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeXcLPyXcAAG62u-768x430.jpg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeXcLPyXcAAG62u-1536x859.jpg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/12\/GeXcLPyXcAAG62u-1200x671.jpg 1200w\" sizes=\"(max-width: 1780px) 100vw, 1780px\" \/><\/a><figcaption id=\"caption-attachment-450976\" class=\"wp-caption-text\">Source: CryptoQuant<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\">Read\u00a0<a href=\"https:\/\/ambcrypto.com\/predictions\/ethereum-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Ethereum\u2019s [ETH] Price Prediction<\/a>\u00a02024\u20132025<\/p>\n<hr \/>\n<p>High funding rates indicated strong bullish market sentiment, though they may lead to short-term corrections due to over-leveraging.<\/p>\n<p>The resurgence of high funding rates, like those in early 2024, shows significant market involvement and optimism. However, this could risk a correction if the market overheats.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ETH&#8217;s bid imbalance showed strong buying interest, suggesting possible price rise despite potential for profit-taking-driven pullback.<\/p>\n","protected":false},"author":98,"featured_media":451040,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,32,66,3,4,20],"tags":[6427],"class_list":["post-450943","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-ethereum-news","category-new-news","category-news","category-social","category-trading-view","tag-ambcrypto"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Ethereum shows high demand, but how low can ETH go before a reversal? 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