Ethereum's price is showing strong upward movements near $1,900, with a sharp drop in exchange reserves indicating investors are moving ETH into long-term storage.
Investors withdrawing ETH from major exchanges like Binance reflects a positive sentiment towards Ethereum's long-term prospects amidst the ongoing bull market.
Data reveals Ethereum's supply on exchanges has decreased significantly, historically preceding price rises, suggesting a potential continuation of the current uptrend.
Though Ethereum has closed another month in a bearish style, technical analysis indicates a potential end to the negative streak as the altcoin shows signs of a bullish outlook.