On-chain data from Santiment reveals that 330,000 Ethereum have been withdrawn from exchanges in the past 72 hours, indicating reduced selling pressure and possible long-term accumulation.
Ethereum faces a critical test as it has lost over 50% of its value since late December and struggles to regain momentum. The recent exchange withdrawals may signal a potential turning point for ETH.
Ethereum (ETH) is currently trading at $2,130 and remains under bearish control. Bulls need to reclaim key resistance levels, including $2,500, to trigger a recovery rally.
The next few days will be crucial in determining Ethereum's short-term direction and whether it can stabilize, escape its downward trend, and regain bullish momentum.