Ethereum Exchange Supply Just Crashed To New Lows, Why This Is Bullish For Price
CryptoQuant has released a new report, highlighting a significant shift in Ethereum’s exchange supply dynamics and institutional behavior. According to the data, the amount of ETH held on crypto exchanges has crashed to unexpected lows. The decline coincides with growing institutional accumulation, a trend often viewed as an early signal of a bullish price outlook. Ethereum Exchange Balances Fall To 2016 Lows Arab Chain, a crypto analyst on CryptoQuant, revealed that Ethereum’s exchange supply ratio across all tracked platforms has declined to approximately 0.137. According to the data....
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On-chain data shows that the percentage of Ethereum supply present on exchanges has set new lows of around 14%. Ethereum Supply On Exchanges Continues To Go Down As pointed out by an analyst in a CryptoQuant post, the ETH supply present on exchanges has been going down since a while now. It has now hit new lows of about 14%. The “percentage supply on exchanges” is an indicator that shows the share of the total Ethereum supply stored in wallets of all exchanges. Usually, this supply present on exchanges is said to be the selling supply of ETH, and so if the indicator’s....
With the broader crypto market’s renewed bullish condition, Ethereum is beginning to demonstrate robust upward movements as it hovers near the pivotal $1,900 level. Following the recent bullish performance, investors and traders are choosing to hold onto their coins, as indicated by a sharp drop in ETH’s exchange reserves. Exchanges Ethereum Reserves Drop Sharply Ethereum’s […]
Last week, Ethereum (ETH) prices fell below $4,000 amidst a general crypto market onslaught marked by heavy liquidations. However, the prominent altcoin soon made a quick bounce off the $3,800 price region and has since slipped into consolidation. Notably, popular crypto analyst Lark Davis is tipping Ethereum to make a euphoric market rebound with a potential all-time high on the cards. Related Reading: Ethereum Supply On Exchanges Shrinks: Multi-Year Lows Signal Bullish Setup Ethereum RSI Flashes Bullish Signal After Fall Into Deep Oversold Zone The Relative Strength Index (RSI) is a....
On-chain data shows the Chainlink exchange supply has observed a plummet, something that could turn out to be bullish for the asset’s price. Chainlink Supply On Exchanges Has Registered A Drawdown Recently According to data from the on-chain analytics firm Santiment, the LINK supply on exchanges could be forming a bullish divergence right now. The […]
Ethereum Price Key Highlights. The downtrend on ethereum price action appears to be slowing down, as bears don't seem to be too eager to take it down to new lows. After breaking below the earlier triangle consolidation pattern, ethereum price seems to be losing momentum and might be in for a short squeeze around the recent levels. Ethereum price might need to make a correction from its recent drop in order to draw more sellers to push for new lows. RSI Bullish Divergence. Technical indicators appear to be showing that a rally is about to take place, as RSI is reflecting downtrend....