The chain data show that the circulation chips available for trading in the Taifa are still decreasing. The fact that the currency held on the transaction continues to decline suggests that more ETH is being transferred from the trading platform and that short-term marketable pressure has eased. At the same time, large holders continue to absorb warehouse space near current prices.
The whale continues to grow near the low.
It is mentioned that the average purchase price of ETH for a whale is approximately $1672, close to the current market price. This means that some of the bulk of the money has not been withdrawn from recent trends, but has chosen to continue to build positions.
In terms of market implications, this type of purchase usually reflects the fact that the next-side succession still exists, but does not mean that the price has been reversed.
Exchange outflows continue
Exchange-flow data indicate that recent outflows continue to exceed inflows. Since the currency in which the transaction takes place usually represents a liquidity that is easier to enter on the sale, a decline in reserves often means a reduction in short-line push.
If this trend continues, ETH may continue to tighten. However, reductions in supply do not necessarily lead to direct increases, and the price will depend on whether the buyout can break the upper resistance.
$1700 for support.
ETH, which had rebounded to the vicinity of $1,800, was unable to stand firm and then slowed again. At the time of reading, the price was approximately $1703 and remained above the key area of $1700.
In terms of indicators, the relatively strong and weak index RSI has recovered from the overselling area to 38.02, but is still below the neutral line of 50, indicating a recovery from the previous period, but not yet strong enough. Parabolic SAR, a parabolic line shift to an indicator, has been pushed below the price, indicating an improvement in short-line conditions as compared to earlier.
Binance ' s liquidation heat seeks to show that there is more liquidity in the vicinity of $1720 to $1730; below, $1665 to $1675 is another area of significant concentration. If ETH delays in recovering $1,800, prices may still fluctuate over these zones.