
Wanz771
@wanzfxzero
991 Following
718 Followers
0 reply
0 recast
2 reactions
0 reply
2 recasts
14 reactions
0 reply
0 recast
12 reactions
0 reply
0 recast
0 reaction
1 reply
2 recasts
32 reactions
Ethereum Exchange Balance Hits Record Low, Signaling Potential Price Explosion
Ethereum (ETH) has endured a turbulent August, with its price falling by approximately 23% over the past month. The situation reached a low point on August 5 when ETH dropped below $2,200, sparking panic among retail investors before its price rebounded.
As of Tuesday, August 20, Ethereum’s exchange balance has reached a historic low, falling below 10% for the first time ever, surpassing Bitcoin. Currently, exchanges hold 18.78 million ETH, worth approximately $50 billion, down from 21.37 million ETH on the same.
Meanwhile, analyst Scient identified a crucial support and resistance zone between $2,900 and $3,000. He anticipates a bearish retest in this range but suggests that a breakout above $3,000 could push Ethereum toward $3,300 to $3,400, signaling a potential bullish trend. Conversely, he cautioned that failure to hold this support could lead to further declines. 0 reply
0 recast
13 reactions
0 reply
1 recast
1 reaction
0 reply
183 recasts
227 reactions
66 replies
4646 recasts
4844 reactions
0 reply
0 recast
0 reaction
75 replies
2568 recasts
2970 reactions
2 replies
259 recasts
283 reactions
104 replies
549 recasts
872 reactions
119 replies
1158 recasts
1509 reactions
6 replies
157 recasts
277 reactions
0 reply
0 recast
0 reaction
0 reply
0 recast
3 reactions
41 replies
908 recasts
1008 reactions
12 replies
376 recasts
655 reactions
16 replies
1900 recasts
2368 reactions