Ethereum Set to Rise? Largest ETH Outflow in 23 Months

Flirting with 3,000 dollars? It’s not yet for today for crypto ETH. But the world’s largest blockchain is not just about price. Between positive technical indicators and renewed investor confidence, Ethereum shows signs of resilience. However, the road to a real rebound remains fraught with obstacles.

An encouraging signal for Ethereum

The Ethereum news: have investors finally taken their courage in both hands? More than 605 million dollars of ether have been withdrawn from crypto exchanges between February 8 and 9. An impressive figure: 224,410 ETH evaporated in 24 hours, marking the largest outflow from platforms in 23 months.

A phenomenon that, according to Santiment, is “a strong signal of confidence”, as fewer ETH in circulation means a reduced supply and, potentially, fewer panic sales.

😯 There was a historic milestone of ~224,410 ETH moving away from exchanges in the 24 hours between February 8th and 9th. This was the most amount of net coins moving off of known exchange wallets in a single day in 23 months.

Though more of a long-term metric, this is a… pic.twitter.com/G2e2AausPh

— Santiment (@santimentfeed) February 11, 2025

The data from CryptoQuant confirm the trend: the ratio of ether available on exchanges has never been so low, reaching 0.137. Meanwhile, the accumulation-distribution indicator climbs to 132.62 million units, a sign of renewed interest in this altcoin.

In parallel, volatility is strengthening. The ETH price fluctuates around 2,714 dollars with a market capitalization of 327 billion, up 3% over 24 hours.

The Bollinger Bands indicate a proximity to the median band, suggesting a possible surge if buying pressure intensifies.

The price of ETH at a crossroads

The next step? Break through the resistance of 2,850 dollars. If ether succeeds, it could surge towards 2,975 dollars, or even 3,050 dollars.

Capital inflows into the crypto market are starting to pick up, with $6 billion added in the past week. Signs of renewed momentum! pic.twitter.com/gK3tZKObxk

— Ali (@ali_charts) February 11, 2025

A breakthrough motivated by the influx of recent capital: no less than 6 billion injected in a week, according to analyst Ali Martinez.

• Currently: $2,714;
• Key resistance: $2,850;
• Bullish targets: $2,975 then $3,050;
• Critical threshold: $2,660;
• Bearish risk: $2,500.

But all is not rosy in the land of ether. The derivatives market sends a cautious message: the taker buy-sell ratio still indicates a selling dominance. In other words, traders still prefer to liquidate their positions rather than bet on an increase.

Ryan Lee, Chief Analyst at Bitget Research, explained the situation this way:

«The drop in Ethereum trading volume can be attributed to a market correction after a significant price drop and a reduction in leveraged positions due to substantial exits from derivatives exchanges. This scenario illustrates the cautious behavior of investors, who may be waiting for more precise market signals. »

And history teaches us that the first quarter is often decisive for Ethereum. In 2017 and 2021, this period marked its best performances. Will this year be an exception? Between accumulation, low availability on exchanges, and a crypto market still dependent on Bitcoin, the answer could well take time.

However, not everything is so optimistic. According to an analyst, Ethereum is currently experiencing a real descent into hell. ETH, trading today 45% below its all-time high in 2021, suffers from persistent inflation and internal tensions among its developers. The burning question: will the second largest crypto be able to rise from this storm, or will it slide even lower?