Ethereum’s Next Move Could Be Significant: On-Chain Data Agrees

Key Takeaways:

• SMA 100 support, SMA 50 resistance
• Exchange reserves at 14.9M — multi-year low
• 57K withdrawals — supply not returning
• ETF inflows: $120M+ post-Iran catalyst
• RSI bouncing from 40, sellers fading

Technical Structure

Looking at the monthly ETH/USD chart, a clear uptrend is visible, with price finding consistent support along a trendline dating back to the 2022 bottom. Every return to this trendline has resulted in a bounce and continuation higher. The 100-period SMA reinforces this zone as a serious support area.

The 0.236 Fibonacci level has been breached, though without full confirmation yet — meaning a retest of this zone must hold to preserve the bullish structure. Price is currently sitting at a critical juncture: resistance at the 50 SMA. A confirmed break above this level opens the path toward the next logical target at the 0.382 Fib (~$2,749).

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