According to CryptoQuant, Ethereum’s estimated leverage ratio on Binance may indicate a change in liquidity. Ethereum’s estimated leverage ratio on Binance gradually recovered and reached a value of 0.69 in mid-March.
Ethereum ELR signals new liquidity cycle
“Ethereum’s estimated leverage ratio on Binance has gradually recovered and reached a value of 0.69 in mid-March. The new ELR growth trajectory indicates renewed optimism for the digital asset.” – @oinonen_t pic.twitter.com/KgzUAi6har
— CryptoQuant.com (@cryptoquant_com) March 17, 2026
The market crash on October 10th caused leverage to be reset, and Ethereum’s Estimated Leverage Ratio (ELR) on Binance decreased from 0.56 to 0.41, marking a 27% decline. This drop was the largest 24-hour liquidation event in crypto history, with over $19 billion of leveraged positions liquidated within 24 hours.
Since then, Ethereum’s estimated leverage ratio on Binance has rebounded, reaching a value of 0.69 at the time of writing. This change signals new optimism in the market, with investors seeking more leverage.
CryptoQuant’s Ethereum Estimated Leverage Ratio (ELR) is a market indicator that measures the average leverage used by traders in the Ethereum derivatives market.
ethereum price
According to Ali’s chart, the $2,152 resistance level has been cleared and the trend has officially turned bullish. Next expected target $ETH are $2,337 and $2,538.
Veteran trader Peter Brandt highlights a “small bottom” on Ethereum’s daily chart that is “in the area of long-term historical support.”
Ethereum rose sharply for eight days from March 9th to March 17th, reaching $2,386 on Monday, but retreating slightly. If it continues to rise, $ETH It could rise to $2,600 and then $3,450. Such price movements suggest that Ethereum may have bottomed at $1,747.
The $2,000 level remains a level at which we should be cautious on the downside. A close below this level would indicate that the bears have the upper hand at higher levels and the price could fall to $1,916.
For traders, the focus remains on the Fed meeting, which begins today and concludes on Wednesday. CME FedWatch is still pricing in a 95% chance that Fed rates will remain between 3.5% and 3.75%, so this decision itself is not an unusual event.
