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Ethereum's Exchange Reserve Increases as Whales Sell Their Holdings, Putting Selling Pressure on ETH Price

June 29 (Cointime) - Ethereum's exchange reserve has increased, indicating selling pressure. While some metrics support the bulls, most market indicators are bearish. Ethereum's price has corrected after surpassing $1,900, and whales have been observed selling their ETH holdings, which could lead to further price drops.

ETH's exchange reserve, supply on exchanges, and supply outside of exchanges are all close to each other, suggesting the possibility of increased selling pressure. Several metrics on Ethereum's daily chart support the bears, including the Money Flow Index, Relative Strength Index, and MACD, while the Exponential Moving Average Ribbon and some on-chain metrics look bullish.

Ethereum Ethereum $3,444.99
+2.95%
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