The cryptocurrency Ethereum ETH $2,672.00 Bridged Ether (StarkGate) 4.53% Market capitalization $0.24 billion VOL. 24 hours $3.19 billion is showing stable dynamics near the key level of $ 2,500, recovering from a recent decline. On Thursday, during the Asian session, the asset added 2% in value, amid increased buying activity from large holders. The supply of ETH on crypto exchanges fell to 18.73 million coins, the lowest since August 2024, indicating a predominance of sentiment for long-term storage.
Since April 24, more than 1 million ETH have been withdrawn from exchanges. The main buyers were whales with 10,000 to 100,000 coins. Over the past nine days, they have increased their holdings by 670 thousand ETH. At the same time, small investors have reduced their assets by 110 thousand coins, which indicates a redistribution of ownership in favor of large players.
Nevertheless, Ethereum has not yet shown a clear trend: the price fluctuates around $ 2,500, which has become a point of intense trading on the futures market. The volume charts show that every slight fluctuation above or below this mark is accompanied by a sharp increase in activity, which could be a trigger for a future breakout.
In the context of interest from retail investors, Ethereum searches have increased slightly to 60 points on the Google Trends scale, which is below the peak level in early May. This means that the current movement is not the result of a «hype» but rather the controlled behavior of large players, which leaves room for further price growth.
Over the past day, futures positions worth $ 106.5 million were liquidated, almost equally from longs and shorts. Technical indicators also give mixed signals: RSI is near the overbought zone but does not show a strong momentum, and MACD may go into a negative phase. To determine a clear direction, ETH needs to either break above $ 2,850 or fall below the $ 2,260−2,100 range.