Ethereum reclaims $2,300 as taker buy ratio hits Jan 2023 high

ETH reclaims $2,300. Order flow shows buyers in control even as price stalls below $2,400.

A new CryptoOnChain analysis shows a strong divergence. While Ethereum fell from ~$4,700 in October to ~$2,300 now, the 30‑day Taker Buy/Sell Ratio has surged to its highest since late January 2023 across Binance and major exchanges according to CryptoQuant.

That peak last appeared near the prior bear‑market bottom, when aggressive buyers absorbed supply at distressed levels as noted in period coverage. The report reads this as two signals: accumulation and seller exhaustion source.

The ratio above 1 at multi‑year highs means market buys are overpowering sells, on Binance and across venues. Large players are building at ~$2,300, not waiting on the sidelines source.

It also hints at thinning sell supply. Buying aggression at multi‑year highs during a downtrend often marks fading seller control source.

Price structure is compressing under resistance. ETH holds a series of higher lows from the February ~$1,800 trough, but the $2,350–$2,400 band and the falling 100‑day MA cap rallies, while the rising 50‑day MA near ~$2,200 supports.

Volume is lighter on the rebound than during February’s selloff. That signals stabilization, not a confirmed breakout yet.

Key levels:
- Break and hold above $2,400 may open $2,800.
- Rejection keeps the range; watch $2,100–$2,200 support.