{"id":16050,"date":"2025-11-16T15:16:05","date_gmt":"2025-11-16T15:16:05","guid":{"rendered":"https:\/\/bitunikey.com\/news\/ethereum-price-risky-pattern-nears-as-supply-on-exchanges-plunge\/"},"modified":"2025-11-16T15:16:10","modified_gmt":"2025-11-16T15:16:10","slug":"ethereum-price-risky-pattern-nears-as-supply-on-exchanges-plunge","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/ethereum-price-risky-pattern-nears-as-supply-on-exchanges-plunge\/","title":{"rendered":"Ethereum price risky pattern nears as supply on exchanges plunge"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Ethereum price crashed to an important support level as its open interest slipped and exchange-traded funds outflows accelerated.\u00a0<\/p>\n<div id=\"cn-block-summary-block_5db1045c42f5697703bdba604767a5e9\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Ethereum price has crashed by 35% from its highest level this year.<\/li>\n<li>The supply of exchanges has been in a strong freefall in the past few months.\u00a0<\/li>\n<li>Ether has formed a small double-bottom pattern on the daily timeframe.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<h2 class=\"wp-block-heading\">Ethereum supply on exchanges has dropped<\/h2>\n<p>Ethereum (ETH) token dived to the key support at $3,060, down by 35% from its highest point this year. It has moved to the lowest level since July 16 as the crypto bear market<strong> <\/strong>accelerates.<\/p>\n<p>ETH price has slumped as American investors continued to exit their positions. Data compiled by <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/sosovalue.com\/assets\/etf\/us-eth-spot\" target=\"_blank\" rel=\"nofollow\">SoSoValue<\/a> shows that spot Ethereum ETFs have been bleeding assets in the past few weeks.\u00a0<\/p>\n<p>These ETFs have shed assets in the last six consecutive days, bringing the cumulative inflows to about $13 billion. They have lost assets in the last two straight weeks, bringing the total assets to $20 billion.\u00a0<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>The ongoing Ethereum price crash is due to the ongoing decline in its futures open interest. Data shows that the interest has dropped by over 50% since October, a sign of waning demand. It has also dropped as the Crypto Fear and Greed Index eases.<\/p>\n<p>Still, there is a ray of light despite the ongoing Ethereum woes. Data compiled by CoinGlass shows that the amount of ETH tokens on exchanges has been in a strong downtrend. There are now 11.96 million tokens in exchanges, down from the July high of 16.36 million.\u00a0<\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\"><em>Ethereum exchange balances | Source: CoinGlass<\/em><\/figcaption><\/figure>\n<\/p>\n<p>Falling exchange balances is a bullish aspect as it signals that investors are moving their tokens to self-custody. It also means that the selling pressure is not all that significant.\u00a0<\/p>\n<h2 class=\"wp-block-heading\">Ethereum price technical analysis\u00a0<\/h2>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"3574\" height=\"2020\" src=\"https:\/\/bitunikey.com\/news\/wp-content\/uploads\/2025\/11\/1763306165_721_Ethereum-price-risky-pattern-nears-as-supply-on-exchanges-plunge.webp.webp\" alt=\"ethereum price\" class=\"wp-image-14434766\"><figcaption class=\"wp-element-caption\">ETH price chart | Source: crypto.news<\/figcaption><\/figure>\n<p>The daily chart shows that the ETH price has been in a strong bearish trend in the past few months. This crash started as it formed a double-top pattern, a popular bearish sign in technical analysis.\u00a0<\/p>\n<p>The coin has bottomed at the 50% Fibonacci Retracement level. It has moved below the 50-day and 200-day Exponential Moving Averages. The two averages are about to cross each other, in a process known as a death cross. Ethereum price remains below the Supertrend indicator.\u00a0<\/p>\n<p>On the positive side, the coin has formed a small double-bottom pattern at $3,060 and a neckline at the 38.2% retracement at $3,600. It has also bottomed at the strong, pivot, and reverse of the Murrey Math Lines.\u00a0<\/p>\n<p>Therefore, there is a slim chance that the token will rebound it holds the double-bottom at $3,060. A move below the double-bottom will point to more downside.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price crashed to an important support level as its open interest slipped and exchange-traded funds outflows accelerated.\u00a0 Summary Ethereum price has crashed by 35% from its highest level this&hellip;<\/p>\n","protected":false},"author":1,"featured_media":8702,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-16050","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/16050","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=16050"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/16050\/revisions"}],"predecessor-version":[{"id":16051,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/16050\/revisions\/16051"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/8702"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=16050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=16050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=16050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}