Ethereum Price Forecast: ETH sees increased buying pressure as Pectra upgrade draws closer
Ethereum price today: $1,960
Ethereum supply on exchanges dropped to a 10-year low, according to Santiment.
Ethereum accumulation addresses added 2.11 million ETH in March.
ETH could find support at $1,800 if it fails to hold a key descending trendline.
Ethereum (ETH) trades above $1,900 on Friday following investors stepping up their buying pressure in March.
The top altcoin could be set for a recovery if the Pectra upgrade proves to be a strong price catalyst.
Ethereum investors increase buying pressure despite weak prices
Ethereum supply on exchanges declined further on Friday, reaching a 10-year low of 8.71 million ETH, per Santiment data.
"There is 16.4% less ETH on exchanges compared to just 7 weeks ago," noted Santiment in a Thursday's X post.
A reduction in a coin's exchange supply indicates that investors are potentially moving tokens to private wallets for long-term holding. It's important to note that this metric may differ across other on-chain analytical tools.
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Ethereum Price Forecast: ETH sees increased buying pressure as Pectra upgrade draws closer
Cryptos | 03/22/2025 00:15:00 GMT
Ethereum price today: $1,960
Ethereum supply on exchanges dropped to a 10-year low, according to Santiment.
Ethereum accumulation addresses added 2.11 million ETH in March.
ETH could find support at $1,800 if it fails to hold a key descending trendline.
Ethereum (ETH) trades above $1,900 on Friday following investors stepping up their buying pressure in March. The top altcoin could be set for a recovery if the Pectra upgrade proves to be a strong price catalyst.
Ethereum investors increase buying pressure despite weak prices
Ethereum supply on exchanges declined further on Friday, reaching a 10-year low of 8.71 million ETH, per Santiment data.
"There is 16.4% less ETH on exchanges compared to just 7 weeks ago," noted Santiment in a Thursday's X post.#ETH🔥🔥🔥🔥🔥🔥 #ETH
