Ethereum is testing the Fibonacci “golden zone” of $2,095–$2,138 after a recent sell-off.
This development coincided with conflicting signals from the money flow on the exchange: the supply from whales increased, while the number of withdrawal transactions decreased sharply. Both factors suggest that the market is in a waiting-for-confirmation phase.
- ETH is testing the technical support zone of $2,095–$2,138.
- Supply on the exchange increased from May 5th, which usually reflects profit-taking.
- ETH withdrawals from exchanges have fallen to their lowest level in a month, indicating that accumulation momentum is not yet strong.
ETH enters a key technical price zone.
Ethereum's price is currently retreating to the $2,095–$2,138 range, a zone often monitored as it coincides with the Fibonacci golden zone. In this context, the market is waiting to XEM this is a bounce point or just a temporary pullback within a corrective trend.
The recent decline has been relatively orderly, showing no signs of sudden sell-off pressure. This means the short-term outlook for ETH hasn't turned entirely negative, even though sellers have been dominant recently.
The flow of money on the exchange is sending mixed signals.
Since May 5th, the proportion of ETH supply held on exchanges has increased significantly. This pattern often occurs when investors take advantage of profit-taking opportunities, especially after a drop from the $2,400 region.
Conversely, the number of ETH withdrawals from exchanges in the past 24 hours has dropped sharply to its lowest level this month. This indicates that accumulation activity has not been strong enough to compensate for the amount of ETH previously deposited on the exchange.
These two signals combined suggest that the market lacks a clear trend. Sellers have acted, but buyers have yet to demonstrate enough strength to convincingly reverse the trend.
The market is awaiting confirmation of the next direction.
With the price approaching the golden zone and on-chain data showing divergent holder behavior, ETH is at a short-term decisive point. The $2,095–$2,138 range could be where a price reaction occurs, but that reaction still needs to be confirmed by actual cash flow.
If ETH holds this level and further outflows occur, the recovery scenario will become clearer. Conversely, if the outflows remain weak, the price may continue to face pressure before forming a more solid base.
Summary
ETH is currently in a noteworthy technical zone, but the available data does not yet provide confirmation for a new trend. Investors should continue to monitor price reactions around $2,095–$2,138 along with the flow of money on the exchange.
