Ethereum Records Largest Exchange Outflow in 23 Months with 224,410 ETH Moved
During the weekend, a significant outflow of Ether (ETH) occurred, with around 224,410 ETH (valued at over $605 million) moved off major exchanges, marking the largest single-day outflow in 23 months. This indicates long-term investor confidence and a trend toward holding rather than selling.
- Exchange supply ratio for ETH has dropped to record lows of 0.137.
- Current price is approximately $2,714, with a market capitalization of $327 billion.
- ETH gained about 3% in the past 24 hours.
- Accumulation/Distribution (A/D) indicator shows positive momentum with 132.62 million units accumulated.
- Bollinger Bands indicate increased volatility, suggesting a potential breakout.
- Potential price targets are $2,975 if resistance at $2,850 is broken, followed by $3,050.
- Failure to maintain support at $2,660 could lead to a decline towards $2,500.
- Historical trends suggest Q1 2025 could be significant for Ethereum, with strong quarterly performances previously in early years.
- ETH is currently consolidating between $2,500 and $2,850, indicating a possible breakout influenced by market sentiment.
