Ethereum is testing resistance just below $2,400, caught between renewed buying interest and the lingering uncertainty that has defined the market for months. From the outside, the price action looks choppy, but CryptoQuant’s report points to something going on beneath the surface that the chart itself doesn’t capture.

According to the report, the 14-day moving average of the taker buy-sell ratio on Binance Ethereum rose to 1.036, which is the highest reading since April 2021. This means that buyers on Binance are not only present – they are overtaking sellers at a rate that the market has not seen in over four years.

What makes this character truly striking is the context in which he appears. Ethereum has fallen from a peak of $4,700 in October 2025 to its current level near $2,300, a decline of over 50%. This is not a minor setback. This is a half price adjustment.

However, in the midst of this correction, aggressive buying pressure on Binance has quietly reached its highest level in many years.

When the price drops sharply and purchasing intensity increases to historic levels, a divergence occurs that markets rarely ignore for long. Sellers now have control over the price. The data raises the question of whether they lack the space to remain in this state.

When the price drops and buyers become more aggressive, something usually changes

CryptoQuant Divergence report this is highlighted by one of the more compelling setups in Ethereum’s latest data. A Taker Buy Sell Rate above 1 means that market buy orders are actively outpacing market sell orders – buyers don’t wait for sellers to come to them, they send an inquiry. The fact that this aggression is at a four-year high while prices continue to fall is a contradiction that requires attention.

In most market conditions, aggressive buyers snail-paced down as the correction deepens. Here the opposite happens. As Ethereum has moved away from its October high, buying intensity on Binance has increased rather than decreased. This type of behavior is not typically driven by retail participants’ response to price. Rather, it appears that huge players are deliberately absorbing available sell-side supply at a discount – what analysts often refer to as intelligent money, using weakness as a buying opportunity rather than a reason to exit.

The meaning of this animated is straightforward. Sellers can only sell what they have. If aggressive buyers continue to absorb this supply at the current rate, the pool of willing sellers will gradually shrink. Once it contracts sufficiently, the price pressure that has defined Ethereum’s correction loses its fuel – and the build-up to a reversal becomes structural rather than speculative.

This point has not yet been reached. However, the data suggests that the gap is closing.

Ethereum is approaching a critical resistance zone near $2,400 after a steady rebound from February’s low around $1,800. The chart shows a clear change in the short-term pattern: price has moved from a sequence of lower highs and lower lows to a pattern of higher lows, indicating that buyers are gradually regaining control.

The recent move is supported by the 50-day moving average (blue), which has risen and is now acting as animated support. This is usually an early signal of a revival in dynamics. However, the broader trend remains unresolved. ETH continues to trade below the 100-day (green) and 200-day (red) moving averages, which continue to decline, reinforcing the presence of overall resistance.

The $2,300-$2,400 region is technically significant. It previously acted as support before the February crash and is now being tested again as resistance. A clear breakout and consolidation above this range would signal a structural change and likely open the way to the $2,700-$2,900 region.

Volumes remain relatively low compared to February’s peak, suggesting the recovery is contained rather than driven by aggressive inflows. This means accumulation rather than speculation.

Failure to break above resistance would likely extend consolidation in the $2,000 to $2,400 range, delaying confirmation of a broader trend reversal.

Featured image from ChatGPT, chart from TradingView.com