๐๐๐๐ฒ๐๐๐ถ๐ป๐ด ๐๐๐ต๐ฒ๐ฟ๐ฒ๐๐บโ๐ ๐ฆ๐๐ฟ๐๐ด๐ด๐น๐ฒ: ๐๐ฎ๐ป ๐๐ง๐ ๐๐ผ๐น๐ฑ $๐ฎ,๐ฏ๐ต๐ฎ?
๐ Ethereum is fighting to stay above $2,392, a key support zone tied to the average buying price of Binance users.
Exchange supply is drying up โ a bullish sign โ but weak momentum and macro uncertainty could still drag ETH lower.
๐ Why $2,392 Matters
According to CryptoQuant:
$2,392 = average cost for ETH held by Binance depositors
ETH has bounced from this level several times before
If ETH holds above it, selling pressure stays low
But dropping below could trigger a fresh wave of selling
By contrast, OKX users have a higher average cost of $2,706, but Binance's size makes its level more important.
๐ง ETH Supply on Exchanges Hits 2-Year Low
Exchange reserves fell to 18.7M ETH โ lowest since mid-2022
Less ETH on exchanges = less available to sell
Long-term holders are moving coins to self-custody
This supply squeeze may help limit downside risk
โ ๏ธ Momentum Is Weak
ETH is hovering around $2,515
RSI = 52.9 โ no clear strength from bulls or bears
MACD is dropping, showing cooling momentum
Price action looks indecisive with smaller candlesticks
โก๏ธ For upside, ETH must reclaim above $2,530 with strong volume
โ If not, a drop below $2,392 could lead to lower support tests