Ethereum is sending mixed signals, although the broader structure remains constructive. Over the past 48 hours, the Coinbase Premium Index jumped 33%, signaling growing demand from U.S. investors.
Such spikes often reflect stronger participation from institutional or high-volume players. However, prices did not break out aggressively. Instead, it hovered around a key breakout zone.
Why is demand for Ethereum increasing?
The rise in the Premium Index suggests that Ethereum is trading on US platforms at a level above the global average, largely led by Binance.
This divergence typically occurs when localized demand exceeds supply. Simply put, buyers paid more to gain visibility.
This behavior tends to support a bullish continuation, especially when it is sustained. Additionally, the liquidity created by this gap could influence price movements in the short term.
However, demand alone does not drive prices up without resistance.
Why is selling pressure increasing?
Despite the rise in the premium index, the buy/sell ratio fell to a monthly low. At press time, it stood at 0.85.
This meant that sales activity exceeded purchases by 15%. This drop indicates increased pressure on the sales side, even if the context remains decisive.
The price development did not show clear signs of mass distribution. Instead, the selling likely came from triggered stop orders related to last week’s bullish positions.
When stops are cleared, short-term data can be distorted without changing the broader trend. Even so, the ratio alone suggests temporary downside pressure.
Can ETH rise further?
On the daily chart, Ethereum continued to hold near a key region. Notably, the imbalance zone between $2,820 and $3,000 is not filled.
These areas often act as price magnets when momentum slows. As long as Ethereum remains in this range or above, the broader structure remains intact.
In many cases, these breaks act as continuation setups rather than reversals.
What happens next for Ethereum?
Ethereum appears to be entering a near-term reset phase. Demand is increasing, even as the market eliminates its weaker positions.
If the selling pressure from liquidations fades, the path to correcting the imbalance could open. This move could push the price towards the upper limit, near $3,000.
For now, the structure remains bullish, although the market takes time to stabilize before the next move.
Final summary
- US-led demand strengthened, with the Premium index up 33% in the last 48 hours.
- Ethereum continued to hold the $2,820-$3,000 range, keeping the broader bullish structure intact.
