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Analysis

ETH outflows from exchanges worth $12.2 billion in the last three weeks ease selling pressure

Citing on-chain data from Glassnode, crypto analyst and trader Ali Martinez said, "In the last three weeks, approximately 510,000 ETH have been withdrawn from crypto exchange wallets. That's worth about $1.22 billion. The large outflow of ETH from exchanges suggests that ETH holders' holding...

ETH outflows from exchanges worth $12.2 billion in the last three weeks ease selling pressure

Citing on-chain data from Glassnode, crypto analyst and trader Ali Martinez said, "In the last three weeks, approximately 510,000 ETH have been withdrawn from crypto exchange wallets. That's worth about $1.22 billion. The large outflow of ETH from exchanges suggests that ETH holders' holding sentiment is robust and that the pressure to sell ETH in the market is easing." Another renowned crypto analyst, Michaël van de Poppe, commented: "The key support level of $2,150 on the daily chart of ETH/USDT on Binance is holding. If this support remains intact and the uptrend continues, a break above $3,000 is possible in Q2".

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