The post Ethereum’s Bullish Breakout Looms As Exchange Reserve Hits 5-Year Low! Where’s ETH Price Heading Next? appeared first on Coinpedia Fintech News
After the market downturn, Bitcoin experienced a decline of over 10% from its crucial $28K mark, with Ethereum reflecting a similar pattern. Presently, despite being aware of the upcoming launch of Ethereum futures ETF in October, both investors and large-scale holders are actively liquidating their holdings. Yet, a promising metric remains that is bringing confidence, suggesting Ethereum could be on the brink of a breakout.
Bullish Signal For Ethereum As Exchange Reserve Touches 5-Year Low
As per Coinglass, traders are consistently offloading their positions, even during slight upticks. In just the past two days, positions worth over $10 million were liquidated, with bullish traders accounting for approximately $6.5 million of that amount. This indicates that Ethereum could encounter significant sell-offs if it tries to climb from
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