The price of Ethereum continues to demonstrate low volatility, remaining below the psychological mark of $3000. The asset made local attempts to rise, but pressure from sellers returned the quotes to the previous range.
Nevertheless, the fundamental indicators of the network indicate an internal strengthening of the ecosystem, which creates conditions for further recovery.
=======
Increase in the number of Ethereum holders
Currently, Ethereum holds a leading position among the largest cryptocurrencies in terms of the number of non-zero wallets. The network has recorded over 167.9 million active addresses with a positive balance. In comparison, the similar figure for Bitcoin is around 57.62 million. Other high-cap assets significantly lag behind these networks in terms of user base volume.
Such dominance confirms the scale of participant engagement and the diversity of blockchain use cases. The spheres of decentralized finance and smart contracts ensure a consistently high level of activity. Therefore, high audience engagement reflects trust in the asset, which remains a key factor in maintaining long-term demand.
=======
Decrease in supply on trading platforms
Macroeconomic indicators also point to the formation of a constructive market environment. Balances of Ethereum on centralized exchanges are steadily declining. Since the beginning of the current month, investors have withdrawn about 397 495 ETH from the platform. This capital movement significantly reduces the available market supply.
This outflow indicates a phase of asset accumulation at current price levels. The total value of withdrawn funds exceeds $1.17 billion. This trend confirms the confidence of large market participants in the medium-term prospects. Historically, a decrease in exchange reserves precedes price increases, provided that demand is maintained or increased.
========
Technical picture and target levels
At the moment, Ethereum quotes are around $2946, remaining below the significant level of $3000. At the same time, the asset consistently finds support in the zone of $2762 over the past weeks. Buyers are actively defending this range despite the overall uncertainty in global markets.
If positive trends persist, Ethereum may make another attempt to break the resistance at the level of $3000. A successful consolidation above this mark will open the path to targets of $3131 and $3287. Such a development will strengthen the trust of both retail and institutional investors.
However, the risks of a renewed downward movement remain. A price drop below the support level of $2762 could weaken the recovery scenario. In this case, a decline to the level of $2681 is likely, which would become the lowest value in the last four weeks and require a revision of current forecasts.
