An analyst from cryptocurrency analysis firm CryptoQuant has claimed that a dump in the price of Ethereum is possible.
JA Maartun, an expert analyst at cryptocurrency analysis firm CryptoQuant, has issued a critical warning regarding the Ethereum (ETH) market.
According to Maartun’s statement titled “ETH Sell Alert,” Ethereum’s daily Net Taker Volume was minus $418.8 million.
Net Buyer Volume represents the difference between buy and sell orders executed through immediate orders. A negative value indicates a dominance of sellers, with sell orders significantly outnumbering buy orders. According to Maartun’s analysis, Ethereum investors sold 115,400 more ETH than buyers could afford in the last 24 hours.
The analyst explained that order types play an important role in understanding investor psychology:
In light of this data, Maartun stated that investors who prioritize transaction speed over price are largely moving in the direction of sales, which is a very strong bearish signal.
