Recent analysis shows that Ether's exchange flux balance has turned negative for the first time in history. This trend may affect its price, changing its trading dynamics.
Ether's Exchange Flux Balance
Founder of the data analytics platform Alphractal, Joao Wedson, pointed out that Ether's exchange flux balance has turned negative for the first time in history. This balance tracks the cumulative net flow of ETH across all exchanges over time. A positive value indicates more deposits than withdrawals, suggesting potential selling pressure. In contrast, a negative balance indicates that more ETH tokens are leaving exchanges than being deposited, signaling accumulation and long-term holding behavior.
Price Growth Prospects for Ether
A key resistance point for ETH price remains at $4500, and for further growth, it needs to establish support above this level. Experts assert that if the price breaks through this level, a pathway to new highs may be opened. For instance, crypto trader Jelle mentions that a close above $4500 would leave significant upward movement possibilities, with targets set at $5766, $6658, and $9547.
Current Market Analysis
The reduction of ETH supplies on exchanges acts as a positive factor for long-term price growth, as fewer assets are available for sale. Currently, the balance of Ether on exchanges has reached a nine-year low, underscoring the aforementioned market trends.
With the current changes in exchange flux balance and price levels, the Ethereum market shows signs of optimism. This situation should be closely monitored, as it may lead to significant changes in investor behavior and asset pricing.
