$380M In Ethereum Leaves Exchanges In 7 Days – Accumulation Trend Accelerates
Ethereum is trading just below $2,000, showing signs of recovery as bulls regain control after weeks of volatility. The price stabilizes above $1,800, with technical indicators suggesting a potential breakout. On-chain data indicates significant net outflows from centralized exchanges, exceeding $380 million in the past week, signaling accumulation and reduced sell-side pressure. The $2,000 resistance remains a critical barrier; a confirmed breakout could initiate a broader altcoin rally. Despite trading over 55% below December highs, bullish developments are noted in lower time frames. However, strong resistance levels pose risks of a decline to $1,700 or $1,500 if not breached. Market sentiment is mixed, with some analysts optimistic about a breakout while others caution against macroeconomic uncertainties that could lead to further corrections. The upcoming days are pivotal for Ethereum's price direction.
