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๐ฅAnalyst: Ethereum Buyers Return, Holding the $2000 Support Is Key
According to Cointelegraph, on-chain data and derivatives market indicators show that buying pressure for Ethereum is returning, but analysts warn that the bulls must hold the $2000 support level. CryptoQuant data indicates that Ethereumโs net order imbalance has remained positive since March 6, reaching as high as $140 million on March 16, and currently still stands at $104 million. Net order imbalance is an indicator of the degree of imbalance between aggressive buyers and sellers in the derivatives market. CryptoQuant analyst Darkfost stated, "Since the last bear market, this is the first time weโve observed such a shift in the Ethereum derivatives market mechanism." He addedโฆ
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