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Ethereum Experiences Most Aggressive Selling Since May 2022 as Net Taker Volume Dips Negative

According to CryptoQuant, traders are selling Ethereum at the most aggressive rate since May 2022. This conclusion was reached by using the metric Net Taker Volume. Net Taker Volume is a metric created by CryptoQuant using their API, which shows the aggressiveness of market sellers and buyers. The metric is calculated by finding the difference between Taker Buy Volume and Taker Sell Volume.

Source: CryptoQuant

Market participants who use market orders are willing to buy or sell at any price and do not care about getting a bad price or paying more fees. As a result, this type of order can push prices down, as seen in the current situation with Ethereum.

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The strongest signal of the indicator is when prices are still relatively high, but Net Taker Volume is deeply negative. Currently, Ethereum is in this position, showing negative values for the metric. This does not necessarily mean that Ethereum can’t bounce in the short term, but as long as the Net Taker Volume shows negative values, it is better to sell the rip rather than buy the dip.

A high-timeframe chart has also been included by CryptoQuant to help judge the historical performance of this metric. The chart provides a clearer picture of the current situation and helps traders make informed decisions about their investments.

In conclusion, the aggressive selling of Ethereum since May 2022, as shown by the Net Taker Volume metric, is a sign that the market is currently uncertain and prices could potentially drop. Traders should keep an eye on this metric and make decisions based on their own risk tolerance and investment strategies.

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