Ethereum rebound at risk? Exchange data flashes warning
Ethereum traded at $2,280.47 at press time, with 24-hour volume at $10.18 billion, according to crypto.news data. Ethereums exchange supply ratio has dropped, but price has not yet formed a matching bottom.Binance ETH funding rates remain negative, showing traders still favor downside positions.Rising short liquidations may add buying pressure if Ethereum continues its recent recovery. ETH gained 0.75% in the past day but remained down 1.56% over the last seven days. Its market cap stood at $275.23 billion, based on a circulating supply of 120 million ETH. The price action comes as analysts track opposing signals from exchange supply and derivatives data. Exchange supply ratio signals dip risk CryptoQuant analyst PelinayPA said Ethereum may still face downside risk. The analyst pointed to a sharp fall in the exchange supply ratio. In past cycles, a falling ratio often appeared near price bottoms. Lower exchange supply can mean reduced selling pressure, but the analyst said the current setup shows a gap. PelinayPA said the ratio has dropped to low levels, but ETH has not formed a matching price bottom. The analyst said this could mean the market has not fully priced in the supply move. The analyst added that “a delayed downward move” remains possible. The view suggests ETH