Ethereum Reserves Drop, Bullish Breakout Possible
Key Takeaways
- Binance experienced a drop of 300,000 Ethereum (ETH) in its reserves.
- Less ETH on centralized exchanges suggests reduced selling pressure.
- ETH is approaching a critical resistance level at USD 2,665.
- 81% of ETH holders are currently in profit.
- On-chain data continues to show strong network activity.
What Does the ETH Decline on Binance Mean?
Since mid-April, ETH reserves on Binance have fallen from 4.1 million to 3.8 million ETH – a decline of 300,000 ETH. This trend indicates growing investor confidence in long-term holding. Many prefer to withdraw their coins from centralized exchanges and store them in private wallets.
Fewer ETH on trading platforms also means reduced market selling pressure. This can help stabilize or even increase the price – especially if the trend continues.
Price Movement and Resistance Zones
At the time of analysis, ETH was trading around USD 2,605, up 2.77% over the past 24 hours. A significant resistance lies between USD 2,600 and USD 2,665. According to the liquidation heatmap, this range contains many leveraged positions that could be quickly liquidated during price movements.
If ETH breaks through this range, so-called short liquidations could be triggered, pushing the price even higher. However, a short-term consolidation is also possible before a sustainable breakout occurs.
Network Usage and Fees
Ethereum network usage remains high. There are currently around 555,880 daily active addresses and 1.42 million transactions per day. Despite a drop in gas usage to 14.09 billion units – which may indicate lower fees or fewer high-volume transactions – activity remains stable.
Lower fees can even have a positive effect: they make decentralized finance (DeFi) applications and NFT platforms more accessible, supporting long-term network usage.
You should read that too:
-
Asian Slots – The Best Asia-Themed Online Slot GamesReading time: ~ 3 minutes
-
Best PayPal Online Casino Sites
Reading time: ~ 3 minutes
-
Versus Odds B.V. Casinos
Reading time: ~ 3 minutes
-
Low Volatility Slots
Reading time: ~ 3 minutes
-
Easter Slots – Best Easter-Themed Slot Games
Reading time: ~ 3 minutes
Profitability of Investors
According to current data, 81.07% of all ETH holders are in profit. A particularly large number of wallets bought their coins in the range between USD 2,460 and USD 2,665 – exactly where the current resistance lies. If the price breaks through this area, many investors may increase their positions, creating additional buying pressure.
Outlook: Is a Breakout Coming?
The combination of declining exchange reserves, high user activity, and a large number of profitable wallets suggests a bullish trend. The price area around USD 2,665 remains key. A breakout with volume could trigger a new upward movement.
However, caution is advised: without sufficient momentum, the price could stagnate in this range. Therefore, closely monitor price developments, especially as it approaches this resistance level.
Our Assessment
Current developments in Ethereum reflect a healthy market structure. Fewer coins on centralized exchanges mean reduced selling pressure. At the same time, network activity remains high, indicating stable user interest. The resistance at USD 2,665 is a key short-term level. A sustained breakout could mark the beginning of a new upward phase. For traders and investors, it’s worth keeping a close eye on this zone. In the long term, Ethereum remains well positioned due to its broad use in DeFi and NFTs.
| Symbol | ETH |
| Coin type | Alt Coin |
| Transaction Speed | Medium |
| Pros |
|
| Cons |
|
| Further practical applications | |
| Price | 2483.27 |
| 24h % | -3.97 % |
| 7d % | 4.26 % |
| 30d % | 55.64 % |
| 60d % | 30.16 % |
| 1y % | -17.99 % |
| Market Cap | $299,817,639,993.00 |
| Official Links | Website | Source Code |
| Socials | Reddit | X |
Advertising transparency