ETH Price Stuck Below $3,000 as Exchange Balances Drop | Airdrop Alert Pro

Ethereum (ETH) prices have been working hard to recover momentum after losing the $3,000 threshold on February 2 and have remained below that level since then. ETH has dropped by more than 20% over the past 30 days, reflecting on the continued market weakness and uncertainty in its next move.

Technical indicators like DMI indicate a lack of a clear trend, with both bullish and bearish pressures in recent days weakening. Meanwhile, the supply of ETH in exchange has dropped to its lowest level in six months, which may indicate accumulation and reduce sales pressure, potentially laying the foundation for recovery attempts.

Ethereum DMI shows a lack of obvious trends

Ethereum’s DMI chart Revealed a weaker trend as ADX fell to 27.5 at 33.8 in the past day. The ADX or average direction index is a key indicator used to measure the strength of the trend. Readings above 25 usually indicate a strong trend, while values ​​below 20 indicate a trend or a non-existent trend.

The decline in ADX indicates Recent trends in Ethereum Losing momentum rather than gaining power can indicate market hesitation.

Looking at the directional indicator, +DI dropped from 17.8 to 15.7, while -DI also dropped from 22.9 to 21.5. This shows that the pressure of buying and selling is weakening, leaving Ethereum There is no obvious directional bias.

With -DI still above +di, the bear has a slightly edge, but the decline in ADX suggests that the trend will not be noticed.

This setting points to the stages of consolidation or potential trend reversal rather than a persistent strong bearish momentum. Until the clear difference in direction indicators or ADX rises, Ethereum’s next step remains uncertain.

Exchange ETH supply reached its lowest level within six months

this ETH supply In the communication, there has been a significant shift in the past few weeks. From 10.35 million on January 19 to 10.73 million on February 1, the exchange balance has since dropped sharply, and has dropped continuously to 9.63 million, the lowest level in six months, dating back to August 2024.

This stable reduction ETH is held during exchange Indicates that there has been a significant change in investor behavior that may affect price action in the short term.

The supply of ETH during communication is a key indicator for understanding market sentiment. When the transaction balance rises, it usually indicates that the investor is ready to sell, as more ETH is ready to be used for trading. This creates sales pressure, leading to bearishness.

On the contrary, when Ethereum supply As exchanges decline, this means investors are transferring their holdings to private wallets, reducing direct seller liquidity.

This trend is often considered positive because it implies confidence in holding rather than selling. As ETH Exchange supply reaches its lowest level in six months, it may indicate strong accumulation, alleviating sales pressure and potentially laying the foundation for up-price momentum.

ETH price forecast: Can Ethereum recover to $3,000?

Ethereum Price The chart shows that its EMA line still indicates a bearish structure, with the short-term moving average position below the long-term.

This indicates that the ETH price has not yet established a confirmed uptrend. However, if the buying momentum is strengthened and ETH can resume a sustained upward movement, it may first challenge resistance at a price of $2,798.

A successful breakthrough above this level can open the door to further gains of $3,024. If the bullish momentum persists, ETH can eventually position the next major resistance at $3,442, indicating a trend reversal to the upward trend.

On the other hand, failure to establish an uptrend may leave ETH price Easy to retest its main support, priced at $2,524.

Failures below this level, especially as sales pressure increases, will confirm the continued bearishness and may further push ETH to $2,163.