ETH’s net taker volume turned positive for the first time in years, signaling potential interest from futures traders. Since Jan. 6, ETH has shown $390 million in positive taker volume, the largest buy imbalance since January 2023. This shift suggests a change in futures demand and a possible trend expansion.

Historically, positive flips in Net Taker Volume have correlated with bottoming ranges or uptrends. The recent shift in ETH’s volume indicates a change in futures demand after years of sell-side pressure. Despite short-term selling pressure, ETH remains stable above $3,000, with larger players gradually repositioning.

ETH’s technical analysis shows a correction phase, with a point of control between $3,050 and $3,140. The broader uptrend remains intact as long as daily closes hold above $3,000. Hyblock data reveals net long positions near $3,100, suggesting ETH may fluctuate within this range as liquidity rebalances.

Read more at Cointelegraph: Will Traders Buy The Dip?