Ethereum

bullish

Beacon

Spot

<ul> 
 <li><strong>Ethereum shows recovery after a 14% monthly decline.</strong></li> 
 <li><strong>Whale activity and ETF outflows indicate bearish sentiment.</strong></li> 
</ul> 
<p>Ethereum, the leading altcoin, has shown signs of recovery after a challenging month, where it declined by 14%. In the past 24 hours, ETH surged to $2,563 before settling at $2,520.29, marking a 2.65% decline. It traded within the range of $2,434 and $2,563, but trading volume fell by 3.27%.</p> 
<p>Notably, Ethereum started the month at an eight-month low of $2,111 and has dropped 7% in the past week. This decline aligns with broader market volatility and ongoing ETF drama. As of August 30, the cumulative net outflow from US ETH Spot <a href="https://thenewscrypto.com/u-s-spot-bitcoin-etfs-see-94-million-net-outflow-in-august/">ETFs</a> stands at minus $477 million.</p> 
<p>Moreover, whale activity has also diminished, with significant declines observed in high-value transactions. Between March 13-19, Ethereum recorded 115.1K whale transactions, compared to just 31.8K between August 21-27. Recent transactions include 30,000 ETH ($75.6 million) and 46,800 ETH ($117.8 million) transferred from Binance to Binance Beacon Deposit, and 13,424 ETH ($33.9 million) moved from an unknown wallet to Coinbase.</p> 
<p><a href="https://x.com/cryptoquant_com">CryptoQuant</a> data indicates Ethereum exchange inflow is at its lowest in 30 days, signaling a potential buy opportunity. Additionally, a decline in large holders’ netflow suggests a bearish outlook among whales. Since ETH <a href="https://thenewscrypto.com/is-ethereum-eth-doomed-to-slip-further/">dropped</a> below $3,000 in early August, large holders have gradually reduced their exposure, with netflow down 17% over the past 30 days and 36% in the past week.</p> 
<h3 class="wp-block-heading" id="h-can-eth-surge-past-2-7k">Can ETH Surge Past $2.7K?</h3> 
<p>The daily chart shows Ethereum in a precarious bullish trend, with the 9-day Exponential Moving Average at $2,536 and the Relative Strength Index (<a href="https://in.tradingview.com/chart/EJXIwxE9/?symbol=BINANCE%3AETHUSDT">RSI</a>) at 42, nearing oversold conditions. If bullish momentum continues, resistance levels at $2,661 and $2,818 could be tested.&nbsp;</p> 
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<p>However, sustained bearish sentiment may push ETH down to $2,422, with potential support at $2,297. Traders are closely monitoring Ethereum’s performance as it navigates these crucial levels.</p>

Is Ethereum Poised for an Imminent Bullish Rebound?

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