ETH Spot Buys Surge 72%, Traders Target Liquidity Gap Near $2,600

April 23 data shows Ethereum (ETH) perpetual futures have seen a sharp jump in buying pressure. On Binance, ETH’s 24-hour net taker volume hit $5.5 billion—up 72% from $3.2 billion at the start of the month, and marking a new 30-day average high since July 2022. Analysts note sustained active buying suggests buyers have strong conviction at current price levels. From a price structure standpoint, ETH is testing key resistance at $2,400—a level it’s touched three times since Feb 6. A decisive break above this threshold would open the door to the $2,475–$2,634 range, where a daily Fair Value Gap (FVG) formed during February’s sell-off is viewed as a liquidity cluster. ETH is also trying to reclaim its 100-day Exponential Moving Average (EMA), a level typically linked to trend continuation phases. Its 200-day EMA is slowly rising to ~$2,634—aligning with that liquidity gap. Derivatives data: Futures’ Cumulative Volume Delta (CVD) has climbed to ~$12.6 billion, while funding rates remain neutral. This means the current rally isn’t being driven by excessive leverage growth. The mix of buyer demand and restrained leverage positions the $2,475–$2,634 range as a key near-term liquidity target. Generated by AI for reference only—use discretion.