Ethereum Whales Withdraw $300M as ETH Eyes Major Breakout

Ethereum is showing signs of building momentum as investors pull significant amounts of the token off major exchanges. Recent data shows over 116,000 ETH, worth roughly $300 million, left trading platforms in just two days. This reduction in supply often points to lower sell pressure, which could help the price climb higher.

Technically, Ethereum has been moving in a tight range between $2,370 and $2,530 since late August. Analysts suggest the market structure currently favors buyers. If the price can firmly close above the $2,530 mark, the next target on the charts is $2,700, followed by a tougher resistance zone near $2,822 where a large amount of trading previously took place.

On the other hand, support remains solid near $2,475. As long as the price stays above this level, the path toward higher targets remains open. Investors should keep a close eye on hourly charts to see if ETH can sustain a breakout above its current ceiling.

Institutional interest also provides a boost for the network. Ethereum ETFs have seen a massive wave of inflows, totaling over $1 billion in just two weeks. This steady appetite from fund investors complements the positive outlook on exchanges and suggests that the broader market is preparing for a potential move upward.