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ETH Ethereum\'s latest rebound is accompanied by important changes in data on the chain
Ethereum\'s latest round of rebound attempts is accompanied by a significant change in data on the chain. According to CryptoQuant, the amount of ETH held by Binance has increased in recent days, while trading activity among major investors has slowed down. If demand continues to weaken, this change could make the market more fragile.
Binance\'s ETH reserves have increased significantly
Since the end of June, Binance\'s Ethereum reserves have increased from 3.64 million ETH to 3.87 million ETH, an increase of 221,000 ETH. Binance remains one of the world\'s leading cryptocurrency exchanges by trading volume. While the increase in reserves does not necessarily mean a sell-off, it suggests that there are now more ETH available for trading on the platform. CryptoQuant data shows that despite the increase in ETH supply in Binandian, recent price increases have not been supported by strong buying activity from major investors. The importance of this increase is that it occurs while Ethereum prices are still below previous highs. If buyer demand fails to emerge and support the market, increased exchange reserves could lead to greater selling pressure.
Large investors slow down trading pace
CryptoQuant\'s data on large investor activity shows a significant decline in large-value transaction volume. In mid-May, the average volume per trade was approximately 1500 ETH, but has since dropped to approximately 1000 ETH, reflecting the market entering a low-activity area. The shift suggests that institutions and high-balance investors are taking a more cautious stance. As major players scale back transactions, order book depth may also be affected. When large buyers and sellers withdraw, the influence of small transactions on price fluctuations increases. Even if total trading volume remains stable, this dynamic may increase short-term volatility.
Technical indicators release mixed signals
According to TradingView data, the current trading price of ETH is US$1777. Despite repeated attempts, the asset remains bearish and has difficulty breaking through resistance. However, buyer interest is helping defend the $1700 to $1750 support area as sellers continue to encounter buying demand at these lows. To achieve a more sustained rise, ETH needs to break through the $1900 to $2000 range. Technical indicators remain unclear: MACD shows bearish momentum is weakening, while the relative strength index is still below the midline, indicating that sellers are still dominant despite buyers \'efforts to stabilize the market. ETH gained support in the $1700 to $1750 range, confirming that a rebound needs to break through the $1900 to $2000 range.
Overall, the Ethereum market seems to be in a wait-and-see state. Unless major buyers return to support prices, the recent increase in exchange supply could put additional pressure on the market in the coming period.
