Ethereum Price Bounces Back to $1,910 Amid Bearish Dominance

Ethereum's price has recovered to $1,910 after a decline in Net Taker Volume and a shift towards bearish dominance in perpetual markets.

The Ethereum Net Taker Volume flipped negative over the past week, signaling net selling. Historically, this metric has preceded price declines of 52% and 33% in January and May, respectively.

On the spot side, whales have been accumulating ETH over the past two days, with one wallet withdrawing 19,000 ETH from Gemini and deploying it into staking contracts.

To reclaim the $2,000 psychological level, Ethereum needs to clear its 100-day EMA resistance near $1,927 and overcome the $1,961 barrier.