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ETH The number of ETH transfers by Ethereum miners to Binance has dropped to the lowest level in nearly a year. The decrease in miners 'deposits means that selling pressure in the Ethereum market has eased. Ethereum prices are trading around $1,929 and remain below the key resistance level of $2,000. ETH has formed higher lows since recovering from lows around $1,550 in June. MACD and RSI showed moderate bullish momentum and did not enter overbought territory.
The amount of transfers from miners to Binance continues to be low
According to CryptoQuant data, the amount of ETH transferred by Ethereum miners to Binance has dropped to the lowest level in nearly a year. This decline occurred after a brief increase in June, and by late July the transfer volume had returned to near baseline levels. The decline indicates that miners are sending fewer ETH to exchanges, possibly for sale. Lower exchange inflows can relieve immediate supply pressures, but the market still needs stronger demand to support clear price movements.
Binance serves as a key market reference because it handles a large amount of spot and futures trading volume. Miners 'low deposits on the exchange suggest that miners have not added much selling pressure at current prices.
Miners usually form a stable market supply when transferring tokens to exchanges. Nowadays, the amount of transfers is reduced, and the amount of new ETH that buyers face entering the market is reduced. This pattern helps price stability during periods of weak markets.
Ethereum price remains below US$2,000
Ethereum prices traded around $1,929 on the daily chart, rising about 0.17% during the day. ETH has recovered from a low near $1,550 in June and has formed a stable pattern of higher lows. However, the asset is still trading below the $2,000 mark, and this area remains the main resistance zone. If a breakthrough from this position can be confirmed, it may open a path to $2,050 and $2,100.
The MACD line is located near 40.99, the signal line is located at 39.77, and the histogram remains positive at 1.22, indicating that buyers still have a slight momentum advantage. The narrow gap between the MACD lines suggests that buying forces have moderated near resistance. The RSI is near 58.91, keeping ETH above the 50 neutral level but not in overbought territory.
Institutional demand may drive the next wave of trends
The current supply pattern supports Ethereum prices as miners have low selling pressure. Even so, weak demand kept ETH in a narrow range, limiting stronger breakthroughs. A new round of institutional buying may provide the buying order needed for the upside. Until that happens, traders may continue to focus on the $2,000 resistance level and the $1,880 to $1,900 support area.
Institutional inflows may also improve spot market liquidity and enhance buying activity. Continued demand will help ETH stand above resistance and build a more solid recovery structure in the coming trading days. If it falls below support, ETH may face the risk of a correction to US$1,800. Holding the region will maintain the current recovery pattern while markets wait for stronger institutional participation.
