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Ethereum Whale Withdrawals Signal Bullish Momentum – Nearly $17.5M in ETH pulled from Binance hints at a looming supply shock.

ETH Price Nears Breakout as Exchange Reserves Drop – Falling reserves and strong technicals suggest ETH may soon push past $2,700.

Ethereum price is heating up. In the past seven days, ETH has gained over 4.5%, and in just the last 24 hours, it’s jumped more than 2.3%. Now, whale activity and exchange data suggest something bigger may be coming.

Ethereum Whales Make Bold Moves

According to on-chain reports, a major Ethereum whale has withdrawn 6,989 ETH (worth around $17.5 million) from Binance over the past three weeks. Just recently, the same wallet removed 1,900 ETH, valued at nearly $4.86 million, from the exchange.This kind of large-scale withdrawal reduces exchange liquidity, and if demand surges while supply dips, it could lead to a supply shock—a classic recipe for a price rally.

Ethereum Exchange Reserve Drops

The latest data shows that Ethereum exchange reserves are steadily falling:

Total exchange reserve now: 18,962,692 ETH

On May 1: 19,576,503 ETH

Binance ETH reserve: 4,947,990 ETH

This drop suggests more ETH is being moved to cold wallets or DeFi platforms—an indicator of long-term holding sentiment among investors.

Ethereum Price Performance: Steady Climb

ETH price on July 1: $2,405.08

ETH price now: $2,562.97

7-day growth: 4.5%

24-hour surge: 2.3%

For weeks, ETH has been consolidating between $2,400 and $2,700. A breakout above this range could confirm bullish momentum.

Ethereum Technicals: Bullish Signs in Play

50-day SMA: $2,532.12

100-day SMA: $2,211

200-day SMA: $2,492.99

RSI: 54.49 (neutral)

The 50-day SMA is above the 100 and 200-day SMAs—indicating short- to mid-term bullish momentum. The neutral RSI means ETH still has room to grow without entering overbought

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