{"id":6098,"date":"2025-07-29T06:55:59","date_gmt":"2025-07-29T06:55:59","guid":{"rendered":"https:\/\/bitunikey.com\/news\/ethereum-retraces-from-3900-local-top-but-declining-exchange-reserves-signal-more-upside\/"},"modified":"2025-07-29T06:56:04","modified_gmt":"2025-07-29T06:56:04","slug":"ethereum-retraces-from-3900-local-top-but-declining-exchange-reserves-signal-more-upside","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/ethereum-retraces-from-3900-local-top-but-declining-exchange-reserves-signal-more-upside\/","title":{"rendered":"Ethereum retraces from $3,900 local top but declining exchange reserves signal more upside"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Ethereum is trading at $3,786, down about 3.7% from its local high of $3,933 recorded on July 28.\u00a0<\/p>\n<div id=\"cn-block-summary-block_3f30f16599566cce1f7364a735d37022\" 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>ETH is still up 56% in the last 30 days despite a 3% pullback from $3,933 local top.<\/li>\n<li>Exchange reserves fell by over 1M ETH in the past month, signaling reduced sell pressure.<\/li>\n<li>ETH ETF inflows remain strong, while technicals show bullish momentum with short-term exhaustion.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>The move marks a minor retracement after a sharp rally over the past 30 days, with the token still up 56%. While trading volume has dropped 12.2% over the last 24 hours to $26.1 billion, derivatives activity shows sustained market interest.<\/p>\n<p>CoinGlass <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/currencies\/ETH\" target=\"_blank\">data<\/a> shows that Ethereum (ETH) futures volume jumped 28.33% to $111.23 billion, even as open interest dipped slightly by 1.45% to $57.5 billion. <\/p>\n<p>Rising volume alongside slightly lower open interest typically reflects short-term profit-taking or position rotation without major liquidation events. It suggests that traders are active but not overly leveraged.<\/p>\n<h2 class=\"wp-block-heading\">1M ETH withdrawn from exchanges in one month<\/h2>\n<p>In the last 30 days, more than 1 million ETH have been taken out of centralized exchanges, according to a July 28 X <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/ali_charts\/status\/1949802517757567040?s=46&amp;t=nznXkss3debX8JIhNzHmzw\" target=\"_blank\">post<\/a> by analyst Ali Martinez. A steep drop in exchange-held reserves usually indicates that investors are shifting assets into non-custodial wallets or cold storage.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">More than 1 million Ethereum <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\">$ETH<\/a> have been withdrawn from crypto exchanges in the past month! <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/t.co\/rP18ToPz7V\" target=\"_blank\">pic.twitter.com\/rP18ToPz7V<\/a><\/p>\n<p>\u2014 Ali (@ali_charts) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/ali_charts\/status\/1949802517757567040?ref_src=twsrc%5Etfw\" target=\"_blank\">July 28, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Frequently seen as an indication of long-term accumulation, this pattern lessens immediate sell-side pressure and may pave the way for future price increases.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>In addition, Ethereum spot exchange-traded funds are still a source of strong demand. According to SoSoValue <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/m.sosovalue.com\/assets\/etf\/us-eth-spot\" target=\"_blank\">data<\/a>, July 28 saw $65.14 million in net inflows. Total inflows for July have now crossed $5.1 billion, showing continued interest from institutional investors. This may help stabilize market confidence even in the face of short-term volatility.<\/p>\n<h2 class=\"wp-block-heading\">Ethereum technical analysis<\/h2>\n<p>Ethereum\u2019s strong upward trend is supported by its position above all significant moving averages on the daily chart. Trend alignment over timeframes is confirmed by ETH trading above its 10-, 20-, 50-, and 200-day EMAs and SMAs.<\/p>\n<figure class=\"wp-block-image size-large\"><picture decoding=\"async\" class=\"wp-image-14400724\"><source type=\"image\/webp\" ><\/source><\/p>\n<\/picture><figcaption class=\"wp-element-caption\">Ethereum daily chart. Credit: crypto.news<\/figcaption><\/figure>\n<p>On the other hand, short-term oscillators show signs of fatigue. The relative strength index has reached overbought territory at 74.6 and the stochastic oscillator is getting close to 89, both of which point to a slowdown in the upward momentum.<\/p>\n<p>These readings suggest that ETH may experience a brief decline or a period of consolidation before attempting higher levels.\u00a0The MACD is still bullish with a strong positive crossover, but other indicators, like the stochastic RSI, are flattening, indicating potential hesitancy.<\/p>\n<p>Ethereum is trading close to the upper Bollinger Band, which usually signals the start of a cooling-off period or a price reversion. If that happens, the $3,680\u2013$3,700 range, which corresponds to the 10-day EMA, provides immediate support.<\/p>\n<p>A sustained decline below that might trigger a more significant correction toward $3,480, but either macro pressure or an ETF demand reversal would likely be necessary for such a move.<\/p>\n<p>On the upside, $4,000 would once again come into focus with a confirmed breakout above $3,960. The next leg of ETH\u2019s move could aim for $4,200\u2013$4,300 if volume picks back up and momentum stabilizes.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum is trading at $3,786, down about 3.7% from its local high of $3,933 recorded on July 28.\u00a0 Summary ETH is still up 56% in the last 30 days despite&hellip;<\/p>\n","protected":false},"author":1,"featured_media":5141,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6098","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\/6098","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=6098"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6098\/revisions"}],"predecessor-version":[{"id":6099,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6098\/revisions\/6099"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/5141"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=6098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=6098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=6098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}