Ethereum Surge: $1.2B Withdrawn From CEXs

Ethereum Gains Momentum with Significant Exchange Outflows

• Ethereum reached a local high of $2,739, marking prices not seen since late February.
• $1.2 billion worth of Ethereum was withdrawn from centralized exchanges in the past seven days.
• The recent surge pushed ETH above the 200-week EMA ($2,259.65) and SMA ($2,451.55).
• Ethereum’s price has increased over 50% since last week.
• Resistance is expected between $2,900 and $3,100.

Ethereum’s recent breakout to $2,739 and significant exchange outflows of $1.2 billion suggest strong accumulation and reduced sell-side pressure, indicating renewed bullish momentum for the cryptocurrency.