Ethereum is struggling to hold above $2.200, but analysts confirm that the pattern from before the 2025 rally is repeating itself.

Ethereum is struggling to hold above $2.200, but analysts confirm that the pattern from before the 2025 rally is repeating itself.

Ethereum's price is showing weakness near $2.200, but a professional accumulation metric suggests an imminent breakout.

Ethereum, the second most capitalized cryptocurrency in the market, is currently trading in the range of $2.200This represents a slight recovery of 2% in the last 7 days. However, despite this short-term positive movement, the asset maintains a cumulative depreciation of over 55% from its all-time high, placing it in a consolidation phase that has generated skepticism among retail investors. 

However, internal network data suggests a different reality beneath the surface of the price charts. According to analysts at the on-chain data firm CryptoQuant, the Taker Buy/Sell Ratio Ethereum's price has maintained a sustained upward trend over the past 5 months. This indicator reflects a accumulation executed through market ordersThis suggests that investors with greater financial capacity are urgently absorbing the available supply, preparing for a possible change in market structure.

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Analysts observe a solid bottom formation using Taker orders

El Taker Buy/Sell Ratio It is a fundamental metric for understanding the immediate psychology of traders in global markets. Unlike limit orders, which wait for the price to reach a specific level to be executed, "taker"They are completed instantly at the available market price. A rising ratio indicates that the volume of purchases executed is greater than the volume of sales, demonstrating an active willingness of participants to acquire the asset without waiting for further corrections." 

CryptoQuant analysts point out that this ratio has been at a "sustained upward trend for approximately 4 to 5 months"This invalidates the theory of a passing enthusiasm and points to a strategy of professional accumulation and deliberate, which has persisted despite the sluggish price of ETH. 

Analysis of Ethereum's 'Taker Buy Sell Ratio' against its price history.
Source: CryptoQuant

According to analysts, the persistence of this metric for almost half a year indicates that the market is experiencing a phase of large-scale sales absorption. 

When high-net-worth individuals decide to make recurring market purchases, they send a signal of confidence in Ethereum's value relative to its current price. This activity drastically reduces liquidity on the supply side, which typically precedes periods where the price responds more sensitively to any increase in demand. The current market structure shows that, although the surface price hasn't reflected this optimism, real capital flows are aggressively positioning themselves in anticipation of an appreciation of the smart contract network.

For analysts, this accumulation phenomenon through taker orders is often the precursor to a breakout from volatility. Observing that the proportion of executed buy orders consistently exceeds that of sell orders, it can be inferred that sellers are exhausted and in an advanced stage. In other words, analysts point out that the selling pressure that caused Ethereum to lose more than half its value from its all-time highs appears to be encountering a wall of demand that not only halts the decline but also uses current levels to build high-volume positions. Analysts consider this technical process crucial for establishing a solid floor before the market begins a phase of vertical expansion.

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Technical divergence: ETH's silent accumulation anticipates a bullish correction

Ethereum's current situation presents what is technically known as a bullish divergence between price action and buying volume indicators. While the price remains stagnant and the overall sentiment is cautious due to the historic 55% drop, the Taker Buy/Sell Ratio continues to reach higher highs. 

According to the technical report, this contrast is a sign of hidden strengthThe gap between a price that appears weakened and a buying metric that strengthens is usually resolved with a violent upward price adjustment to align with the real demand that the supply chain data is transparently recording.

Ethereum (ETH) price quote over the last 12 months.
Source: CoinGecko

This divergence suggests the market is undergoing a transfer of assets from weak hands to long-term investors. Temporary sell-offs and the fear caused by the price's inability to recover to higher levels are being exploited by professional entities to acquire Ethereum at prices they consider undervalued. 

CryptoQuant's analysis emphasizes that the steepness of this ratio's recovery, compared to the depth of the price decline, creates a highly relevant technical structure. Historically, when buyers are willing to pay the market price consistently for months, the asset tends to find equilibrium at much higher valuation levels.

Finally, the behavior of the «takers"This is an indicator of urgency. By executing massive orders without seeking the best possible price through limit orders, these players confirm that their priority is to secure ownership of the asset before a significant market move occurs. This constant absorption of the circulating supply is what allows the market to establish dynamic support levels. Without this buying pressure, the sideways movement around $2.200 could have led to further declines, but the presence of active buyers acting on the taker ratio indicates that there is a real demand base supporting the ecosystem at its current levels.

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Technical parallels are drawn with the 2025 bull market cycle

The recent analysis also reveals a statistical similarity between the current configuration and events that preceded major price movements in the recent past. Analysts indicate that "When comparing the depth of the current price reduction along with the slope of the ratio recovery, the structure that is forming bears a strong resemblance to the configuration that preceded the significant rally observed in April-May 2025." 

This historical correlation suggests that The market is repeating an accumulation pattern which has already proven effective in catalyzing large-scale upward trends.

During the aforementioned period of 2025, Ethereum experienced a substantial revaluation—reaching levels close to $4.950 Later in that cycle—after months of buying activity identical to the current one—the buy-taker ratio began to rise while the price remained low, creating pent-up pressure that was finally released when selling pressure completely dried up. If history repeats itself using these same metrics, the current level could be the starting point for a similar recovery pattern. 

The logic, according to analysts, is that the market has absorbed most of the selling pressure needed to clean up the ecosystem, allowing the asset to respond strongly to pent-up demand.

Finally, the resilience of the Ethereum network in the face of global volatility reinforces the professional accumulation narrative. Despite the challenges of the macroeconomic environment, the flow of taker orders suggests that participants see strategic value in the asset. The analyzed metric is not just a statistical data point, but a reflection of investor conviction. With the buy ratio rising and a technical structure that mirrors the success of the previous year, the data suggests that Ethereum's stagnation phase may be nearing its end, giving way to a revaluation phase driven by the sustained absorption of the last five months.