Ethereum's recent price fluctuations coincide with significant withdrawals from exchanges, indicating a potential shift in investor sentiment and long-term accumulation strategies.
Ethereum is currently trading at $3,786, down 3.7% from a recent high. In the past month, over 1 million ETH were withdrawn from exchanges, signaling a shift towards non-custodial wallets. Despite a drop in trading volume, Ethereum futures saw a 28.33% increase, indicating sustained market interest. Technical indicators suggest potential consolidation before further price movements, with immediate support around $3,680–$3,700 and resistance at $4,000.