Analysis: Ethereum's rebound faces macro resistance, with derivatives and on-chain indicators showing cautious market sentiment

2026-03-06 07:05:27

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CryptoWorld News, March 6 — Despite Ethereum rebounding 22% from its low of $1,800 on February 24, its price trend remains constrained by macro factors. The annualized premium on ETH futures is well below the neutral threshold of 5%, and the options skew indicator has risen to 7%, indicating that professional traders continue to remain cautious, adding uncertainty to the market. On-chain data shows that the weekly trading volume on Ethereum network DEXs has decreased from $20.2 billion a month ago to $12.6 billion, and DApp revenue has dropped 47% week-over-week to $14.1 million. Despite weak on-chain metrics, Ethereum still dominates in total value locked (TVL), accounting for nearly 65% of the entire blockchain market TVL, including Layer 2 solutions. The mainnet TVL of Ethereum reached $55.4 billion, far surpassing its main competitor Solana’s $6.8 billion, reflecting institutional investors’ preference for decentralization.

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