Ethereum experiences gradual recovery because its price rises above USD 3100. This means an raise of 2.3% over the past day. However, assets remain in a state of general inheritance, which is a 3.3% decrease in a week.

While this modest reflection ensures relief, Ethereum is still struggling with the effects of a general bear. The continuous price movement prompted some analysts to re -re -base the Ethereum metrics to understand what could lie down before cryptocurrency.

One of the key areas of concentration are Ethereum reserves on point exchange. According to the recent analysis By Cryptoavails, co -founder of the Quicktake Cryptoquant platform, the total Ethereum reserves took place on point stock exchanges. This long -term trend indicates a change in the management of market participants.

Ethereum spot Exverty Trend Reserve

According to Kryptovail, Ethereum reserves undergo significant changes over the years. On the bull market 2017-2018 reserves have reached their peak, powered by an raise in investors’ interest.

In the period 2020-2021 there was another significant growth, powered by the growth of the DEFI ecosystem and projects based on Ethereum. However, from the end of 2021, the reserves began a pointed decline, because immense withdrawals from the exchange became more common.

By 2023, the reserve levels reached a low point, and by 2024 these reduced levels persisted, signaling a potential shortage of supply. This reduction of reserves often indicates that owners withdraw Ethereum from stock exchanges for long -term storage, instead of leaving them for immediate trade.

As a result, the reduced supply of stock exchanges can exert pressure on price increases. Kryptovails noticed that from 2022, as the reserves dropped, the price of Ethereum began to stabilize at higher levels. This pattern suggests that low reserve levels can support further price increases, potentially causing a modern trend up.

Technical analysis of ETH

From a technical point of view, Ethereum showed patterns that analysts interpret as stubborn. Several outstanding characters in the cryptographic community shared their insights.

One known analyst recently known as Crypto Ceaser Highlighted The reflection of the price of Ethereum as a significant occasion, expressing the view that cryptocurrency is underestimated and can be ready to achieve modern ups of all time.

$ ETH – – #Ethereum reflected as expected. It was a great chance. Send it.

In my opinion, Ethereum is very underestimated. I think we’ll see modern ATH soon. pic.twitter.com/ljma1leko

– Crypto Caesar (@cryptocaesarta) January 28, 2025

However, not all analyzes paint a uniformly bullish image. Anup Dhungana, another cryptographic analyst, indicated Disgustion between Bitcoin and Ethereum market behavior.

While Bitcoin maintained a constant upward trend, Ethereum performance against Bitcoin was less solid, and the ETH/BTC pair creates lower minima. This discrepancy reflects the reduced interest of investors in Ethereum in relation to other assets.

According to Dhungana, the next level of technical support for ETH/BTC can be between 0.028 and 0.026. The reflection from this level can potentially enliven the wider interest in Ethereum and Altcoins, paving the way to the next phase of growth.

A distinguished picture created from DALL-E, chart from TradingView