URGENT UPDATE: Ethereum (ETH) is making headlines today as it gears up for its first weekly gain since October, currently trading at $3,050. This surge comes amid a significant increase in exchange withdrawals, signaling a potential shift in market sentiment.
The latest data shows that Ethereum is testing the critical $3,100 resistance level after successfully reclaiming support at $2,850. The buying pressure has notably begun to outweigh selling, marking a pivotal moment for the cryptocurrency.
Exchange netflows have plunged to their lowest levels in over a month, with outflows exceeding inflows by nearly 180,000 ETH just yesterday. This trend indicates that investors are increasingly transferring their assets from exchanges to private wallets, suggesting a growing interest in long-term holding strategies.
Institutional interest has surged as well. Ethereum exchange-traded funds have reported net inflows totaling $292 million over the past four days, breaking an eight-day streak of outflows. This marks a significant recovery in institutional confidence in Ethereum.
On-chain activity is also on the rise, with Ethereum’s active addresses spiking to over 601,000 on Thursday, the highest level recorded in 2025. This uptick reflects a resurgence in investor engagement with decentralized finance (DeFi) protocols and other blockchain applications.
In the derivatives market, Ethereum’s futures open interest remains stable at around 12.1 million ETH. Liquidation rates have shifted, with short positions being liquidated more frequently than long positions, indicating a potential exhaustion of bearish sentiment.
The risk-off trend has paused as ETH prices hovered around the realized price range of $2,750-$2,850, which corresponds to the average cost basis for accumulation addresses. This price level aligns with where many significant investors, or “whales,” have been active.
As Ethereum approaches the $3,100 resistance, analysts are closely monitoring its performance. A decisive move above this level could pave the way for a test of the $3,470 mark, contingent on clearing the 50-week Exponential Moving Average.
With the Relative Strength Index (RSI) showing signs of stabilization and the Stochastic Oscillator close to exiting oversold territory, the momentum could be shifting in favor of bullish traders.
The implications of these developments are significant for both retail and institutional investors. As Ethereum continues to recover, the market is abuzz with anticipation regarding its next moves, making it a focal point for cryptocurrency enthusiasts globally.
Stay tuned for further updates as the situation develops. Ethereum’s journey towards recovery could redefine market dynamics in the coming weeks.
