Ethereum has been struggling to reclaim the $2,800 mark as support, leaving investors uncertain about the short-term direction of its price.
More than 900,000 Ethereum have been withdrawn from exchanges in the past 10 days, signaling increased accumulation and reduced sell pressure.
The substantial withdrawal of ETH from exchanges could indicate growing confidence among long-term holders, suggesting a potential rally.
The next few days will be critical for Ethereum as it consolidates below the $2,800 mark, determining whether it can reverse its bearish trend or face further downside.