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06/20 05:50

Ethereum’s exchange supply shrinks again – Is ETH

#World Cup Predictions: 100,000 USDT Daily Ethereum’s exchange supply shrinks again – Is ETH setting up for a recovery? A major Ethereum whale intensified its accumulation activity after purchasing 7,000 $ETH worth $11.8 million. The latest acquisition lifted the wallet’s total purchases to 17,800 $ETH valued at approximately $29.76 million over the previous ten days. Such sustained buying activity highlighted growing conviction from large holders despite Ethereum’s recent price struggles. Notably, the whale accumulated $ETH at an average price of $1,672, a level close to the asset’s current market value. This positioning suggested that large investors continued to view current prices as attractive. Exchange supply keeps shrinking Beyond whale activity, exchange flow data revealed a notable shift in Ethereum’s circulating supply. During the latest trading session, Ethereum recorded $95.92 million in inflows against $109.27 million in outflows. This imbalance produced a net outflow of roughly $13.35 million. The persistent outflow trend indicated that more $ETH left exchanges than entered them. Since exchange-held assets typically represent readily available selling supply, the decline suggested reduced immediate sell-side pressure. Why has $ETH stalled below resistance? Ethereum’s [$ETH] recovery attempt lost pace after the price approached the $1,800 resistance level and failed to establish a sustained breakout. The daily chart showed that $ETH traded near $1,703 at the time of observation, while maintaining support above the key $1,700 region. Technical indicators reflected a market that had attempted to recover but had not fully regained strength. The Relative Strength Index climbed from deeply oversold conditions and reached 38.02, while remaining below the neutral 50 threshold. This reading suggested that buyers had regained some control, though bullish strength remained limited. Meanwhile, the Parabolic SAR flipped beneath price during the recent

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