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The technical analysis for the “Orderflow Snapshot” of the ETHUSDT trading pair on a daily (1d) chart, dated March 22, 2026. The structure is similar to the previous Bitcoin analysis.

1. Price Action, Volume Profile & Trendlines (Top Panel)

Just like with Bitcoin, we see the main chart displaying the current price action.

• Pattern (Trendlines): Following a significant drop, Ethereum has entered a clear consolidation phase. This is marked by the two white converging trendlines, forming a symmetrical or slightly descending triangle (wedge). The price is approaching the apex (the tip) of the triangle, indicating an impending breakout.
• Volume Profile (Blue histogram on the left): The red horizontal line indicates the POC (Point of Control) at $1975.37. This is the price level where the most volume has been traded. The current price is moving exactly around this point, indicating that the market has found a strong base or equilibrium here.
• Supply & Demand Zones: The price is currently squeezed. Above the price, there are several red resistance zones (Supply), while the price finds strong support (green Demand zones) just below and around the current POC level of $1975.

2. Momentum, CVD & Price (Second Panel)

This panel shows the underlying buying and selling pressure.

• CVD (Cumulative Volume Delta – blue line): We see something striking here. While the price (yellow dotted line) has remained relatively flat within the triangle, the CVD has shown an upward trend in recent weeks. This is a form of bullish divergence: more market buy orders are being placed than sell orders, even though the price is not yet rising in tandem.
• Momentum (Green/Red bars): Momentum is very low, which is typical for a consolidation phase. The small bars indicate that there is currently no aggressive movement as the market anticipates a breakout.

3. Open Interest & Funding (Third Panel)

This panel provides insights into the futures market.

• Open Interest (OI – purple line): After a sharp drop during the earlier crash (likely due to liquidations), Open Interest has recently shot up steeply again. Traders are massively opening new positions while the price is still confined within the triangle. Combined with the approaching apex, the market is building up an enormous amount of energy for an explosive move.
• Funding (Green/Red bars around the zero line): Funding rates are predominantly neutral with occasional small red spikes (meaning short sellers are paying long buyers slightly). There is no extreme overheating leaning to one side.

4. Whale Ratio (Bottom Panel)

This illustrates the behavior of large investors (“whales”).

• Buys vs. Sells: In the most recent period, as the price has been consolidating around $1975, we see a clear dominance of green bars. This means that whales are predominantly on the buying side, suggesting accumulation by large players at this support level.

Summary

Much like Bitcoin, ETHUSDT is building tension for a major move, but Ethereum is showing stronger bullish (positive) underlying signals. While the price moves sideways in the triangle around the POC of $1975, we see buying pressure (CVD) increasing and whales appear to be actively accumulating (green Whale Ratio). The sharply rising Open Interest confirms that the market is heavily positioning itself for a major breakout in the near term.