CandleFocus

Ethereum (ETH) Price Climbs as 361,000 ETH Exits Exchanges

Author: Content Editor
The price of Ethereum (ETH) has increased by over 7% in the past week, but large holders remain cautious. EMA lines suggest a bullish setup and if the uptrend continues, ETH could see further gains. However, the movement of ETH to exchanges has turned positive, which typically indicates bearish sentiment. On the other hand, a significant withdrawal of ETH from exchanges suggests a bullish outlook as holders opt for long-term storage. The number of addresses holding at least 1,000 ETH is declining, indicating a lack of confidence among major investors. Despite this, the EMA lines still indicate a bullish setup for ETH price. If the uptrend continues, ETH could rise to test resistance at $2,820 and potentially reach $3,400. However, if a downtrend forms, ETH could test support levels at $2,308 and $2,150.

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