ETH, the leading alternative coin, has shown resilience in the face of the recent market downturn, recording a modest increase of about 1% in the last 24 hours, with a current trading price of $1,842.

This positive development is accompanied by a significant rise in the taker buy-sell ratio, a crucial momentum indicator, to its highest level in the past month, indicating a renewed bullish sentiment in ETH's futures market.

Investors are closely monitoring ETH's upward potential as the taker-buy-sell ratio has reached 1.08, the highest since early April. This ratio reflects the balance between buying and selling volumes in the ETH futures market. A ratio above 1 signifies more aggressive buying activity, while below 1 indicates stronger selling pressure.

With the taker buy-sell ratio at 1.08, buyers are currently dominating, suggesting growing confidence among traders in the possibility of further price increases. Additionally, the Relative Strength Index (RSI) for ETH is on the rise, currently at 58.39, indicating a positive trend.

Being above its 20-day EMA, currently at $1,770, ETH is supported by short-term bullish momentum. Traders are optimistic that if buying pressure continues to strengthen, ETH could aim for $2,027. However, a decline in buying interest could lead to a drop below the 20-day EMA, potentially pushing the price down to $1,385.