• Ethereum exchange balances have dropped to their lowest level since 2016.
• ETH remains structurally bullish as long as it holds above the 21-week EMA.
• Short-term weakness points to $3,800 support and $4,400 resistance as key levels.

Crypto analyst EGRAG Crypto pushed back against bearish sentiment surrounding Ethereum (ETH) on social media, noting that while many traders are calling for a crash, the long-term bullish technical structure remains intact. 

According to the analyst’s weekly chart, ETH has not yet closed below the 21-week EMA, a key trend indicator. He explained that ETH remains “in the most bullish setup” until prices drop  below the 21 EMA with strong volumes.

Read The Full Article Ethereum Nears $4,000 Base While Exchange Balances Slide to 14.8 Million ETH On Coin Edition.

• Ethereum exchange balances have dropped to their lowest level since 2016.
• ETH remains structurally bullish as long as it holds above the 21-week EMA.
• Short-term weakness points to $3,800 support and $4,400 resistance as key levels.

Crypto analyst EGRAG Crypto pushed back against bearish sentiment surrounding Ethereum (ETH) on social media, noting that while many traders are calling for a crash, the long-term bullish technical structure remains intact. 

According to the analyst’s weekly chart, ETH has not yet closed below the 21-week EMA, a key trend indicator. He explained that ETH remains “in the most bullish setup” until prices drop  below the 21 EMA with strong volumes.

Read The Full Article Ethereum Nears $4,000 Base While Exchange Balances Slide to 14.8 Million ETH On Coin Edition.