Ethereum remains a focal point for investors despite a minor decline following recent local peaks.
Current Ethereum Market Situation
Currently, Ethereum is trading at $3,786, down 3.7% from its local high of $3,933 recorded on July 28. Despite this, ETH still shows a 56% increase over the last month. The current trading activity stands at $26.1 billion, reflecting a 12.2% decrease over the last 24 hours.
ETH Withdrawals from Exchanges
In the past month, over 1 million ETH have been withdrawn from centralized exchanges, indicating that investors are shifting their assets into non-custodial wallets or cold storage. Analyst Ali Martinez highlights that such withdrawals are often a sign of long-term accumulation, reducing immediate sell pressure.
Technical Analysis and Forecasts
Ethereum continues to show a strong upward trend, remaining above all significant moving averages on the daily chart. However, short-term indicators like the relative strength index and stochastic oscillator show signs of fatigue. This may indicate a potential short-term decline or a consolidation period before ETH attempts to break the $4,000 level.
Ethereum continues to be of high interest in the market despite the recent minor pullback. Withdrawals from exchanges and sustained institutional demand may contribute to further price growth.
