Ethereum Faces Critical Market Test Amid Exchange Withdrawals
- 330,000 Ethereum withdrawn from exchanges in the past 72 hours.
- ETH has lost over 50% of its value since late December.
- Ethereum is trading at $2,130, struggling below the $2,500 level.
- Bulls need to defend the $2,100 level for a potential recovery.
- A break below $2,000 could lead to further declines and increased selling pressure.
Ethereum’s recent withdrawal of 330,000 ETH from exchanges suggests reduced selling pressure and potential accumulation. However, with ETH trading at $2,130 and key support levels being tested, the market remains cautious about its short-term direction.
Source (2.6)https://www.newsbtc.com/news/ethereum/330000-ethereum-withdrawn-from-exchanges-in-72-hours-supply-squeeze-incoming/?rand=52377
