330,000 Ethereum Withdrawn From Exchanges in 72 Hours

Ethereum (ETH) is experiencing significant selling pressure and volatility, nearing crucial demand levels as the crypto market declines. Traders remain cautious amid uncertainty following US President Trump's executive order on a Strategic Bitcoin Reserve.

Key points include:

• 330,000 ETH withdrawn from exchanges in the past 72 hours, indicating potential long-term accumulation.
• Current trading price is $2,130, below the critical resistance level of $2,500.
• Bulls need to defend the $2,100 level and break above $2,500 for a recovery rally.
• Key support is at $2,000; losing this could lead to further declines.

On-chain data suggests a possible supply squeeze due to reduced exchange supply, which might drive prices higher if buying pressure increases. The next few days are pivotal for ETH's short-term direction and potential recovery.