Exchange reserves just hit a 10-year low.
Price is still trapped under $2,250.
That's the whole $ETH story right now — loud narrative, quiet chart.
Reserves down to roughly 14.5M ETH, the lowest since 2016. Bitmine keeps stacking. On paper, that's supply-shock fuel .
But the 4H still prints lower highs below the EMA50 at $2,284, and spot ETH ETFs just logged a seventh straight outflow day. Price keeps failing at $2,250–$2,265 and sliding back into the $2,200s .
So which one wins? ETF redemptions, or coins leaving exchanges?
The level that decides: $2,240. Lose it, and the next pocket is $2,125–$2,058. Reclaim $2,265, and the $2,380s open up .
I'm not chasing a direction — I'm watching how $ETH reacts at $2,240. A 4H close below $2,200 invalidates the bounce thesis.
Supply shock or slow bleed — which side are you on? 👇
NFA. DYOR.
like and subscribe for more updates
$BTC
#ETH #Ethereum #Write2Earn
#JobsReportRaisesHikeOdds
Price is still trapped under $2,250.
That's the whole $ETH story right now — loud narrative, quiet chart.
Reserves down to roughly 14.5M ETH, the lowest since 2016. Bitmine keeps stacking. On paper, that's supply-shock fuel .
But the 4H still prints lower highs below the EMA50 at $2,284, and spot ETH ETFs just logged a seventh straight outflow day. Price keeps failing at $2,250–$2,265 and sliding back into the $2,200s .
So which one wins? ETF redemptions, or coins leaving exchanges?
The level that decides: $2,240. Lose it, and the next pocket is $2,125–$2,058. Reclaim $2,265, and the $2,380s open up .
I'm not chasing a direction — I'm watching how $ETH reacts at $2,240. A 4H close below $2,200 invalidates the bounce thesis.
Supply shock or slow bleed — which side are you on? 👇
NFA. DYOR.
like and subscribe for more updates
$BTC
#ETH #Ethereum #Write2Earn
#JobsReportRaisesHikeOdds
