Ethereum (ETH) It may not be as strong as it seems right now. While the price may seem momentarily stable, there is more to this than meets the eye.
Major players remained active, but will this momentum continue without retail support?
There is not enough demand for Ethereum
According to a recent report, Ethereum It faces weak demand from US investors despite global activity. Coinbase Premium Index comparing ETH prices coinbase And BinanceAt the time the news was published, it was negative with a value of around -0.0149.
Simply put, this means: Ethereum (ETH) It may be trading cheaper It’s on Coinbase rather than Binance. This means lower buying pressure or increased sales in the US
What is interesting here is that this difference continues even during the recovery period. No matter how short. However, a move back towards neutral or positive levels would evidence improved sentiment and stronger support from US investors.
Whales are here but no retail
When you look at the order flow, everything becomes clear. Although demand in the USA is weak, major players are active in the market.
In fact, CryptoQuant data has highlighted consistently increasing average order sizes. So whale-sized transactions dominate Ethereum’s spot activity.
But what is missing is retail participation. There is little indication that smaller order flows are increasing alongside these larger transactions. The market structure was quite one-sided.
Such installations may not have staying power.
Steady but not very strong
On the daily chart, Ethereum (ETH) held above the $2,100 zone. But it looked shaky at best. Notably, the MACD was flat while the RSI was at neutral levels. Simply put, its last push is losing its power.
Derivative numbers appear to follow a similar pattern. Open Interest has fallen lower from previous highs – A sign that investors may be stepping back.
At the same time, Funding Rates showed that long positions were still dominant, but not aggressively.
Final Summary
- Ethereum does not have much demand from the USA.
- Whale activity remains dominant, but the lack of retail support makes the rally fragile.
