Ethereum Price Today: $2,580
- Bullish Momentum: Exchange supply hits lowest since August 2024, signaling strong demand.
- Whale Activity: Large holders added 670K ETH in 9 days, driving buying pressure.
- Key Level: ETH consolidates near $2,500 amid neutral market bias.
Ethereum (ETH) gained 2% early Thursday, reclaiming the critical $2,500 level as whales accelerated accumulation.
Declining Exchange Supply Reflects Strong Demand
Ethereum’s exchange reserve dropped to 18.73 million ETH—the lowest since August 2024—as investors moved coins to private wallets for long-term holding. Over 1 million ETH exited exchanges since April 24, reducing sell-side pressure and supporting price stability.
👉 Why Ethereum’s Supply Drop Matters for Investors
Whale Dynamics:
- Addresses holding 10K–100K ETH increased balances by 670K ETH in 9 days.
- Smaller holders distributed 110K ETH, highlighting divergent strategies.
Despite bullish indicators, ETH remains range-bound near $2,500, with futures trading volume spiking around this pivotal level.
Market Sentiment and Retail Interest
Google Trends data shows Ethereum searches rebounded to 60 (from 45 on May 17), though below the 100-point peak during May’s rally. This suggests:
- Retail interest is warming but not overheating.
- Room for sustained growth without speculative froth.
Ethereum Price Forecast: Awaiting a Catalyst
Key Levels to Watch:
- Upside Break: A close above $2,850** could target **$3,250.
- Downside Risk: Failure to hold $2,100** may lead to a test of **$1,688.
Technical Indicators:
- RSI: Flat near overbought territory, hinting at slowing momentum.
- MACD: Potential bearish crossover if histogram turns negative.
FAQ
Q: Why is Ethereum’s exchange supply dropping?
A: Whales and institutional investors are moving ETH to cold storage, reducing liquid supply and supporting prices.
Q: What’s the significance of the $2,500 level?
A: It’s a psychological and technical pivot; sustained trading above this zone could signal renewed bullish momentum.
Q: How does whale activity affect ETH’s price?
A: Large accumulations limit available supply, creating upward pressure—especially when paired with spot market demand.
👉 Ethereum’s Next Big Move: Expert Insights
Final Notes
- Liquidations: $106.52M in futures positions were liquidated recently, with longs slightly outpacing shorts.
- Caution: Market volatility persists; monitor key levels and volume trends for directional cues.
Always conduct independent research before investing. This analysis does not constitute financial advice.
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