HomeUncategorizedEther price eyes $3K as exchanges’ ETH balances drop to an all-time low By Cointelegraph

Ether price eyes $3K as exchanges’ ETH balances drop to an all-time low By Cointelegraph

June 25, 2023

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Ethereum’s on-chain movements indicate bullish pressure building around Ether as its exchange balances reached an all-time low and staking deposits keep surging.

Ether’s (ETH) technical charts suggest that the asset can reclaim $3,000 if buyers are able to push above the resistance between $1,900 and $2,000.

Percentage of ETH’s supply on crypto exchanges. Source: Glassnode
Netflow of ETH deposits and withdrawals from exchanges. Source: Glassnode
daily price chart. Source: TradingView
daily price chart. Source: TradingView
Funding rate for ETH perpetual swap contracts. Source: CoinGlass