The Ethereum price has dropped 4% on Saturday, May 16, as investors book profits ahead of low weekend market volumes. This move follows a significant dip in the US markets on Friday.
Market Sentiment and Trading Data
Key indicators show a dominant bearish sentiment. However, critical trading data from Binance reveals strong buying pressure from whale traders. According to Coingecko data, Ethereum has experienced significant gains over its fourteen-day moving average period.
Recent reports indicate that inflows from large investors were a key bullish catalyst for Ethereum. With corporate markets now closed for the weekend, short-term traders and investors are scaling down their positions due to anticipated weak market volumes.
Binance Trading Insights
- Top Trader Long/Short Ratio: Currently stands at 2.6697, indicating that top-tier accounts remain heavily skewed toward long positions.
- The ratio increases to 3.04 when considering the Top Trader Long/Short Ratio by Accounts, suggesting that over 75% of Binance’s top accounts expect a rebound in Ethereum’s price.
These numbers reflect confidence among institutional-grade traders that Ethereum may still hold above $2,400.
Derivatives and Liquidation Data
- Total ETH derivatives volume: Down 12.78% to $72.27 billion.
- Options volume: Crashed by 43.24% to $504,028,000.
- Options open interest: Remains stable with an increase of 0.35% to $7.25 billion.
Liquidation data reveals an aggressive shakeout of long positions, with $81 million wiped out in the last twenty-four hours, including $16.9 million lost within the last twelve hours alone. However, short liquidations remain minimal at $12 million, indicating a lack of sustained downward conviction.
Future Outlook
If Binance top traders maintain their leveraged long stance, Ethereum may bounce off the $2,045 to $2,400 range. A decisive push back above this psychological level would likely invalidate short-term bearish momentum, especially if weekend volume surprises to the upside.
However, should sentiment deteriorate further, the ETH price risks sliding towards support levels last seen during April consolidation.
At press time, Ethereum trades around $1,776.50, with slight losses since the morning trade session began yesterday evening.
I’m Mark W. Lamplugh Jr., a visionary Chief Executive Officer, Board Member, and best-selling Author with over 25 years of experience driving significant revenue growth and optimizing ROI across the healthcare, wellness, and media industries. Throughout my career, I’ve consistently transformed underperforming operations into thriving ventures by building top-tier marketing organizations, implementing data-driven strategies, and leading transformational change. My empathetic, collaborative, and adaptable leadership style has allowed me to cultivate inclusive cultures of innovation, develop and retain top talent, and forge strong partnerships that fuel organizational success.
Adept in executive leadership, strategic business planning, and brand and marketing strategy, I have a proven track record of boosting annual revenues—achieving up to $1.3B in oncology over three years and generating $360M in mental health initiatives. My approach combines strategic vision with hands-on execution, as evidenced by my success in launching innovative facilities, expanding services for addiction and mental health care, and enhancing organizational brand visibility. As author of “The AI Marketing Playbook,” I contribute thought leadership on the integration of artificial intelligence in marketing, a role that showcases my commitment to staying at the forefront of industry innovation.
I also bring my insights and expertise to a broad audience as the host of cable tv & global streaming of “Street Level Marketing Show,” while my writing has been featured in major publications such as Entrepreneur, Business.com, The Startup, and Kivo Daily. Whether I’m implementing targeted digital marketing campaigns that engage over a million individuals monthly or overseeing multi-million dollar budgets to maximize return on investment, I approach every challenge with a combination of strategic planning, creative problem-solving, and unwavering dedication. Above all, I am passionate about expanding access to high-quality addiction and mental health care through innovative solutions that drive both patient outcomes and organizational growth.
Mark serves on the board of One World for Life, National Fire Heritage Center, and the Institute for Responder Wellness.
Mark (https://marklamplugh.com) is one of the top marketing executives in the United States and has revolutionized how companies reach potential clients thru influence, SEO, social, PR, and traditional marketing. His expertise in Marketing, Social Media, Digital Marketing, and Public Relations has generated millions of dollars in revenue for several national companies. Mark documents many of his techniques in his book “Beginners Guide to Social & Digital Media.” and “Marketing Playbook for Social Media,” which was named the top 100 social media marketing books of all time by Book Authority. He’s also a professional advocate for the behavioral and mental health of firefighters and other first responders. Marks articles have been published in Better Marketing, Startup Magazine, Social Media Today, Kivo Daily, Biz Catalyst 360, Fire Engineering, Firehouse Magazine, and several others.
One of his companies, niches, are marketing products and services to the public safety industry and their employees, specifically mental & behavioral health services. He can be reached for comment at ceo@influencemediasolutions.com
23,000 #1 Connections, 40,000,000 US B2B Contacts and 300,000,000 B2b/B2C email contacts as well as 1,000,000+ monthly social media reach. https://marklamplugh.com
