Key Takeaways
300K ETH withdrawn from Binance, reducing sell pressure and boosting bullish sentiment.
81% of ETH holders are in profit, with key resistance at $2,665.
Declining exchange reserves suggest long-term accumulation over short-term selling.
Break above $2,665 could trigger a short squeeze, accelerating ETH’s rally.
Binance’s Shrinking ETH Reserves: What It Means
Ethereum’s reserves on Binance have dropped by 300,000 ETH since mid-April, falling from 4.1M to 3.9M ETH. This signals a shift in investor behavior—more holders are moving ETH off exchanges, likely for long-term storage or DeFi participation.
Why This Matters for ETH Bulls
✅ Reduced sell pressure – Fewer ETH on exchanges means less immediate liquidation risk.
✅ Strong accumulation trend – Investors prefer self-custody, indicating confidence in ETH’s long-term value.
✅ Price support – At press time, ETH traded at $2,605 (+2.77% in 24H), with potential for a breakout.
Critical Resistance: Can ETH Break $2,665?
The liquidation heatmap reveals a thick resistance cluster between $2,600 and $2,665. A decisive break above this zone could:
Trigger short liquidations, fueling a rapid upward move.
Confirm bullish momentum, opening the path toward $2,700 and beyond.
However, ETH may face temporary consolidation before a sustained breakout.
On-Chain & Network Health: Bullish Signals
1. Active Users Remain Strong
555,880 daily active addresses
1.42M daily transactions
Despite lower gas fees (14.09B gas used), Ethereum’s utility remains robust, supporting its bullish case.
2. 81% of ETH Holders in Profit
The largest wallet clusters sit between $2,460 and $2,665.
If ETH holds above this range, profit-taking may slow, allowing for further upside.
Ethereum Price Prediction: What’s Next?
Bullish Scenario
Break above $2,665 → Short squeeze → Rally toward $2,700-$2,800.
Continued exchange outflows → Stronger long-term price support.
Bearish Risk
Rejection at $2,665 → Possible pullback to $2,460 support.
Final Verdict: Watch the $2,665 Breakout
Ethereum’s declining exchange supply, strong user activity, and high holder profitability suggest bullish momentum. If $2,665 breaks with volume, ETH could enter a new uptrend.
🔹 Trade Setup:
Long above $2,665 (target $2,700+)
Support zone: $2,460-$2,500
📈 Stay updated with real-time ETH price action and on-chain data.
