Dear Readers,
Amidst the recent crypto market fall, many would be watching the price movement of ETH is very interesting.
At the time of writing this article ETH is trading at 2313 USD, with a higher of 1.02% on a day-day basis and 2.47% on a weekly basis.
According to the crypto expert, Ali's latest tweet, there has been a massive withdrawal of ETH token valued at 1.22 billion from the known crypto wallets in the past three weeks.
This massive outflow of these withdrawals signaling that the reduced selling pressure of ETH in the market.
If we also see the Ethereum price chart, it showing strength. It trades with a strong lower end support with the ascending triangle. There are various indications on the bullishness and the accumulation of the ETH.
It also trades with a range bound prices. The RSI is trading flat. The price of the ETH is about to go for a bullish divergence with consolidation, side ways and surely heading for a bullish breakout.
The news of ETH ETF approval is on the cards which also contribute a positivity to ETH.
If we see the broader technicals of ETH, it is showing the neutral to buy which is a positive sign again.
