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Recently, Ethereum 
$1,864 investors have been withdrawing significant amounts of their assets from exchanges. According to data shared by crypto analyst Ali Martinez, approximately 900,000 ETH left exchanges in the past 10 days. This movement indicates a reduction in selling pressure and an increasing buying trend within the market. Currently, Ethereum’s trading price stands at $2,731 with a total market capitalization exceeding $2.457 billion.
Major Investors Turn to Ethereum Purchases
Alongside the withdrawal activities, it has also been observed that major investors are purchasing Ethereum. In the last 72 hours, around 280,000 ETH has been bought, exceeding a total value of $764.68 million. The decrease in the amount of ETH on exchanges may lead to a contraction in supply.
Investors are taking positions based on expectations that the price of Ethereum will rise. Especially, off-exchange custody wallets present a safer alternative for long-term investors. Large-scale transactions are one of the significant indicators that affect market movements, and rapid purchases by investors could signal the beginning of upward momentum in the market.
Technical Indicators Signal “Buy” for Ethereum
Ali Martinez noted that Ethereum’s Tom DeMark (TD) Sequential indicator has signaled a buying opportunity. This indicator has historically indicated strong price movements at similar levels. Currently, ETH’s positioning at the lower boundary of a rising channel creates a critical level for investors.
In technical analysis, it has been observed that TD Sequential signals have led to sharp rises in Ethereum’s price in the past. The repetition of such signals captures the attention of market participants. Strong buying signals near Ethereum’s support levels increase the potential for upward price movement; however, investors should remain cautious considering market volatility.
