Ethereum price came close to shattering key barrier $4,400 at the end of last week but its steam fizzled out. ETH withdrawals from exchanges have been relatively low since May and might hamper the uptrend.
Ethereum price tried to recover on November 18 and 19 as bulls tried to recover last week’s losses, bounding off the $4,000 support wall. However, the ETH recovery was rejected by the $4,400 supply zone. This resistance level may curtail any efforts to push the price of the smart contracts token higher, given the correction towards $4,100.
Ethereum Withdrawals From Exchanges Has Been on the Decline
Ether exchange withdrawals have been decreasing particularly after a sharp drop in May, based on on-chain data from Glassnode. According to this data, the amount of ETH leaving exchanges has grown exponentially during the first five months of the year. However, this metric fell sharply in May has remained below 55,750 since then.
Ether (ETH) Exchange Withdrawals
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We współpracy z: https://coingape.com/ethereum-price-analysis-eth-recovery-under-threat-as-exchange-withdrawals-decrease/
