BEARISH 📉 : Exchange supply ratio signals likely Ethereum pullback despite price strength
CryptoQuant flags an ETH on‑chain divergence after a 25% rally
Ethereum jumped over 25% since late March. An on‑chain signal now shows a bottom without the usual price dip, raising downside risk per CryptoQuant.
The Exchange Supply Ratio has fallen to low levels. Historically, such drops align with price declines that form bottoms. CryptoQuant says the ratio has bottomed.
Price hasn’t followed. ETH held relatively high instead of dipping alongside the ratio, as noted by NewsBTC.
Leverage may be the reason. Derivatives can keep price elevated beyond spot support, delaying the signal’s resolution, per CryptoQuant.
These gaps tend to close downward. Past instances resolved with price declines toward where the ratio points, according to CryptoQuant.
ETH reclaimed structure but faces overhead resistance. Price trades near $2,280 and sits above the 50‑week moving average, yet remains below the 100‑ and 200‑week averages, per the chart. Source: ETHUSDT chart.
$2,200–$2,300 is a pivot. It’s a former support now retested from below. Holding it matters for trend reversal. Source: ETHUSDT chart.
Follow‑through volume is muted after the bounce. Participation looks cautious versus prior impulsive phases. Source: ETHUSDT chart.
- A break above $2,600 opens a path toward $3,000. Source: ETHUSDT chart
- Loss of $2,200 exposes downside to $1,900 support. Source: ETHUSDT chart
