Ethereum price bounces back above $2k as scarcity index turns positive

Ethereum price forecast: bulls hold $2K support amid CEX outflows

Ethereum price hovered just above $2,000 as whales moved ETH off exchanges. Large holder activity sees Ethereum exchange balances fall by over 74,000 ETH this week. Bulls could eye $2,188 and potentially $2,600 amid a technical breakout. Ethereum’s price is holding near the $2,000 level, with bulls eyeing fresh moves above what many analysts see as a crucial psychological level. The top altcoin traded within a tight range on Thursday, as Bitcoin…

Ethereum price bounces back above $2k as scarcity index turns positive

Ethereum has regained momentum, bouncing back above the $2,000 mark. The rebound comes after a period of consolidation just below this psychological level. One of the most notable developments is the Ethereum scarcity index turning positive. Source: CryptoQuant This indicates that fewer coins are available on crypto exchanges compared to historical averages. When exchange reserves shrink, it often means that selling pressure is lower and upward …

Ethereum Scarcity Index Now Positive on Binance: Is $2,050 the New Floor? - 99Bitcoins

Ethereum is trading sideways, frustrating retail investors who have watched the second-largest cryptocurrency stagnate. But beneath the choppy price action, a critical on-chain signal has just flashed green. The Ethereum Scarcity Index on Binance has climbed to 0.67, a positive reading that indicates more ETH is leaving the exchange than entering it. This metric suggests that available supply is tightening exactly as price consolidates around th…