Ethereum reserves plunge to 9-year low – Is a massive price rally imminent? – BitRss

• Ethereum’s exchange supply has plunged to its lowest level in nine years.
• Could this supply squeeze trigger a price surge?

The supply of Ethereum [ETH ($2,717.31)] on exchanges has dropped to its lowest level since 2016, signaling a liquidity squeeze that supports a medium-term bullish outlook.

With sell-side pressure easing and accumulation rising, could ETH reclaim the critical $3.5K resistance in the near term?

Key technicals flash bullish 

Despite no signs of overheating, Ethereum remains 32% below its post-election peak of $4,016, having formed four consecutive lower lows. 

This time, however, the RSI has bottomed out, and a bullish MACD crossover is taking shape – suggesting ETH’s consolidation could be building momentum for a breakout.

Yet, historical patterns suggest caution. Previous recoveries failed…