Ethereum's Taker Buy Sell Ratio on Binance slipped to 0.91, the most negative reading since September 2023. The metric tracks the aggressor side of futures trades — a reading below 1 means more market orders are hitting the sell side than the buy side. At 0.91, sell orders are substantially outweighing buys, and the pressure isn't letting up.
What the taker ratio tells us
The weekly Taker Buy Sell Ratio on Binance is also at 0.91, which means this isn't a one-day blip. Across the full week, aggressive sellers have consistently dominated the order book. That's a direct measure of bearish conviction among futures traders — not just a spot price dip. It signals that leveraged longs are getting hammered and that new buying interest is thin.
Price action: testing the floor
Ethereum is trading near $2,130 after briefly recovering toward $2,400 earlier this month. Over the past seven days, ETH corrected about 9%. It's now testing the $2,100-$2,150 support region — a zone that has held in recent weeks but is looking shaky. Losing this area could open the door to $1,900-$2,000, a level last seen during February's plunge near $1,800.
The recovery from that February capitulation low initially looked promising. But momentum fizzled after multiple failed breakout attempts at $2,300-$2,400 resistance. Each rejection has left traders more cautious.
The technical backdrop
Ethereum remains capped below its descending 200-day moving average, which sits near $2,600. That long-term trendline has acted as a ceiling since late 2025, reinforcing the broader bearish structure. Volume on the recent decline is subdued compared to earlier this year — a sign that the sell-off is driven by deteriorating sentiment rather than panic. That makes the grind slower but no less dangerous for longs.
The question now is whether $2,100-$2,150 holds. If it doesn't, the next real floor is the $1,900-$2,000 range. And with the taker ratio screaming sell, there's not much evidence of a reversal brewing yet.
