Over 635,000 ETH, approximately valued at $1.28 billion, have left exchanges in the past six days. This marks a clear accumulation trend as investors take advantage of lower prices. Many are hoping this strategy will pay off if Ethereum sees a strong price rebound.
The rapid drop in exchange supply suggests growing confidence among investors. With more people choosing to hold instead of sell, pressure on the price could shift upwards. Long-term holders are also playing a key role. The Liveliness indicator, which tracks holder activity, has hit a one-month low. This shows that long-term holders are adding to their ETH positions instead of selling.
At the moment, Ethereum trades at around $2,025, holding above the $2,000 support level. However, the next big challenge lies at $2,141. If Ethereum breaks above this resistance, it could confirm the recovery and trigger further gains, possibly towards $2,344.
On the other hand, failure to break past $2,141 can drain momentum. This can cause Ethereum to drop below $2,000 again and even test support at $1,862.
Investors and traders now watch closely if Ethereum can hold on to this recovery and regain lost ground.
