The giant whale is quietly accumulating! ETH supply has hit a historical low!
From a technical perspective, after testing around $2870, the price rebounded and is currently consolidating around $2950. Relevant indicators show that the downward momentum has weakened, and the market may be brewing a trend change, which perhaps indicates that the adjustment phase is nearing its end.
There are some positive signals on the fundamental side. Although the network activity indicators have fluctuated, on-chain data shows that a considerable amount of ETH has recently been continuously accumulated and withdrawn from circulation by long-term holders. The ETH supply on exchanges remains at a low level, which usually indicates that the potential selling pressure in the market is limited. At the same time, the recent network upgrade has effectively improved overall capacity and efficiency, coupled with progress in mainstream compliant stablecoin businesses, all of which are long-term positives for the ecosystem.
Regarding concerns that the price may fall below $2900, I believe there is a solid support foundation near this level that is not easy to break effectively. The current sideways consolidation seems more like the market is gathering strength for the subsequent directional choice.
My personal strategy is to consider gradually building long positions in the current area and set a clear stop-loss plan for myself. The initial upward target can be observed around the $3170 area; if it can successfully break through, the next phase may challenge higher positions. The current moment might be a layout window worth paying attention to.
Something big is coming! A god-like order is about to be announced! The car is too heavy to pull! After careful consideration, I still choose to be at 聊天室分享! If you want to get on the highway, you can call me! @Alpha金手指
