Ethereum has experienced a significant drop in value over the past seven weeks, leading to concerns among investors. However, there has been a historic event with a large amount of Ethereum being moved off exchanges, indicating growing confidence in its long-term value. This is seen as a bullish sign, as it reduces selling pressure and can support price increases. Ethereum's trading volume has also increased, and there has been a jump in the number of active Ethereum addresses. Despite recent negative sentiment, investors appear bullish about Ethereum's long-term potential. From a technical standpoint, Ethereum's price action looks promising, with indicators suggesting a potential rebound.



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