Ether Trader Sentiment Falls to Lowest Level in 3 Years as Bearish Calls Mount

ETH trader sentiment just reached its most bearish level since the 2023 bear market, reported CryptoQuant analyst ‘Darkfost’ on Tuesday. The metric has been measured using the Binance taker buy/sell ratio, which has fallen back to levels not seen since September 2023, when ETH had fallen to $1,600.

“This highlights how much trader sentiment toward Ethereum has deteriorated over recent weeks.”

Bearish Calls Mounting Up

The weekly ratio has fallen to 0.91, which means sellers are dominating Binance futures order books. “In other words, aggressive sell orders are significantly outweighing buyers,” they said.

Ether has traded in a broad range for the past five years, but it remains weak at the lower bounds of this range despite solid fundamentals, which is not a healthy sign.

“Although these situations remain difficult to anticipate precisely, a market positioned too heavily in one direction can sometimes create the conditions for a sharp move against consensus.”

Analyst ‘Daan’ observed on Wednesday that ETH had returned to a major support/resistance level “after messy price action the past month.”

“This level, just like $2.8K, has proven very actionable and important for ETH over the past few years,” he said. Losing this level could send Ether back below $2,000 again.

$ETH After messy price action the past month, it is now back at the major $2.1K support/resistance level.

This level, just like $2.8K, has proven very actionable and important for ETH over the past few years.

Definitely an area to look at closely. A bounce & higher low here… pic.twitter.com/fRlAnmkT7V

— Daan Crypto Trades (@DaanCrypto) May 19, 2026