Will Ethereum Price Reclaim $2,600 As Binance Whales Eye Rebound?
The post Will Ethereum Price Reclaim $2,600 As Binance Whales Eye Rebound? appeared on BitcoinEthereumNews.com. Ethereum (ETH) price is trading near $2,470 after a 6% drop over three days, raising questions about its next move. While the weekend started with a 4% dip, whale activity and derivatives data suggest ETH could still recover. Large traders remain bullish, and technical indicators point to a short-term consolidation zone. Market watchers are closely monitoring whether Ethereum can reclaim the $2,600 mark soon. Exchange Outflows Point to Supply Shock In the last 30 days, over 1 million ETH has been withdrawn from exchanges, marking a 5.5% drop in supply. Exchange balances now stand at 17 million ETH, which is the lowest level since 2021, according to data shared by CryptoBusy. As Ethereum moved up from $1,800 to over $2,600, there was an increase of more than 44%. This pattern has most often led to bullish momentum, as cryptocurrencies rise in value after their supply is reduced. A drop in supply and an increase in demand often lead to higher prices in the market. Source: X These large holders or whales, are choosing to move their ETH to cold storage instead of keeping it on exchanges. As a result, stock prices may stop dropping and often show traders’ confidence in the upward trend. Traders are closely monitoring the market to see if it will surge above the $2,500 point. TD Sequential Signal Warns of Short-Term Correction This means that Ethereum has been making new lows and new highs on the 3-day chart. After exceeding the 0.618 and 0.786 levels of the Fibonacci retracement, it sits just beneath the resistance at $2,500. However, following the TD Sequential indicator, there is a sell signal of “9” displayed on that same chart. This pattern often suggests short-term profit-taking. Ethereum dipped to $2,457 after failing to hold above $2,500. Despite this, it remains above…
The post Will Ethereum Price Reclaim $2,600 As Binance Whales Eye Rebound? appeared on BitcoinEthereumNews.com.
Ethereum (ETH) price is trading near $2,470 after a 6% drop over three days, raising questions about its next move. While the weekend started with a 4% dip, whale activity and derivatives data suggest ETH could still recover. Large traders remain bullish, and technical indicators point to a short-term consolidation zone. Market watchers are closely monitoring whether Ethereum can reclaim the $2,600 mark soon. Exchange Outflows Point to Supply Shock In the last 30 days, over 1 million ETH has been withdrawn from exchanges, marking a 5.5% drop in supply. Exchange balances now stand at 17 million ETH, which is the lowest level since 2021, according to data shared by CryptoBusy. As Ethereum moved up from $1,800 to over $2,600, there was an increase of more than 44%. This pattern has most often led to bullish momentum, as cryptocurrencies rise in value after their supply is reduced. A drop in supply and an increase in demand often lead to higher prices in the market. Source: X These large holders or whales, are choosing to move their ETH to cold storage instead of keeping it on exchanges. As a result, stock prices may stop dropping and often show traders’ confidence in the upward trend. Traders are closely monitoring the market to see if it will surge above the $2,500 point. TD Sequential Signal Warns of Short-Term Correction This means that Ethereum has been making new lows and new highs on the 3-day chart. After exceeding the 0.618 and 0.786 levels of the Fibonacci retracement, it sits just beneath the resistance at $2,500. However, following the TD Sequential indicator, there is a sell signal of “9” displayed on that same chart. This pattern often suggests short-term profit-taking. Ethereum dipped to $2,457 after failing to hold above $2,500. Despite this, it remains above…
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