Ethereum storms $1800: $2.8 billion in aggressive purchases within 6 hours — a signal for a reversal?
The Ethereum market has once again attracted the attention of major players. After recovering from a local low around $1510, the ETH price managed to return to the psychologically important level of $1800. However, the key feature of this movement was not the fact of the rise itself, but the colossal volume of aggressive buying recorded on the Binance exchange.
According to on-chain analytics, the Binance Total Taker Buy Volume indicator reached approximately $2.8 billion over six hours. Notably, more than $1 billion of this amount occurred within just a single hourly interval. This is the highest hourly value since June 5, when ETH was trading near $1605.
The timing of these purchases is critically important. The last time a similar surge in aggressive demand was observed was at lower levels. Today, however, the wave came precisely at the moment of testing the $1800 resistance — the first major return to this level after a deep drawdown.
A sustained consolidation above $1800, backed by such volume, indicates the willingness of large buyers to push the price higher. However, if the momentum weakens, this surge could turn out to be merely a short-term liquidity spike rather than the start of a sustained upward trend.
Protracted capitulation or bottom formation?
At the same time, analysts are drawing attention to an unusual phase of stress that Ethereum is experiencing. Unlike last year's scenario, where the bottom formed after a relatively short capitulation, the current period has dragged on for several months. Historically, such a level of pressure would already correspond to a bottom formation process, but the problem is that selling pressure continues.
The key question now is whether this process is close to completion. For now, Bitcoin is giving the market some respite, which could act as a catalyst for ETH.
Unlike skeptics, MN Fund founder Michaël van de Poppe is confident. He has long noted the current ETH level as an excellent spot buying opportunity on a 6–12 month horizon. In his view, the next step will be a test of the 0.03250 level in the ETH/BTC pair and a return to a pronounced upward trend.
Expert opinion: The volume surge on Binance during the $1800 breakout is a strong bullish signal. However, to confirm a reversal, it must be followed by consolidation above this level and a reduction in selling pressure. Without this, we risk seeing another false breakout.