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Ether (ETH) is trading adjacent $3,300, and 1 futures marketplace inclination points to different 10% to 25% upside move. However, the marketplace whitethorn archetypal spot a liquidation-driven terms dip earlier immoderate sustained rally develops.
Key takeaways:
Ether’s Leverage Ratio is adjacent 0.60, a level that has historically preceded 10% to 25% rallies aft abbreviated pullbacks.
The ETH SOPR remains beneath 1, indicating realized losses inactive outweigh profits contempt caller terms gains.
Ether leverage setup favors upside aft a abbreviated cleanup
Crypto expert Pelin Ay highlighted a recurring operation successful Ether’s leverage dynamics. When the Leverage Ratio rises rapidly supra terms connected Binance, it leads to short-lived downside wicks that flush overleveraged agelong positions, followed by beardown upside reactions.
This signifier appeared aggregate times successful 2025, notably successful February, April, September, and November. A akin series occurred successful October, erstwhile a crisp leverage spike triggered a abrupt dump earlier the inclination continuation.
ETH’s estimated leverage ratio connected Binance. Source: CryptoQuantCurrently, the Leverage Ratio sits adjacent 0.60, which is comparatively elevated. Notably, the leverage is not declining contempt caller terms gains, signaling persistent hazard appetite. Pullbacks astatine these leverage levels person preceded 10% to 25% rallies, implying Ether could inactive beryllium positioning for a crisp upside determination aft a last liquidity sweep.
Meanwhile, Glassnode expert Sean Rose noted a divergence successful ETH holder behavior. Despite Ether outperforming Bitcoin from January lows, ETH’s spent-outpur nett ratio remains beneath 1, indicating that the aggregated losses outweigh profits. This suggests a weaker condemnation among ETH spot holders compared to the BTC participants.
BTC vs ETH SOPR comparison. Source: Glassnode/Sean RoseRelated: Short compression hits apical 500 cryptos arsenic traders unwind bearish bets
Data suggests an ETH dip is overdue
Ether printed its highest regular adjacent since November 12, 2025, astatine $3,324. A 25% rally from present would spot ETH supra $4,100, but the probability of a insignificant dip remains elevated.
Ethereum one-day chart. Source: Cointelegraph/TradingViewOn the regular chart, Ether formed an bid artifact betwixt $3,050 and $3,170 during the caller impulse. This portion aligns with the constituent of power connected the Visible Range Volume Profile (VRVP), an indicator that highlights the terms level wherever the astir trading measurement has occurred since September 2025.
The terms could gravitate backmost to this level, arsenic it represents an country of just worth wherever buyers and sellers antecedently agreed connected the price.
Supporting this view, Hyblock data shows nett agelong attraction supra $500 cardinal betwixt $3,040 and $3,100. Such dense positioning increases the likelihood of a short-term expanse into this range, perchance mounting the signifier for a stronger continuation determination afterward.
Net agelong positions for Ethereum. Source: Hyblock CapitalRelated: Efforts to bulletproof Ethereum are paying disconnected successful idiosyncratic metrics
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