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Ethereum recorded nearly $1 billion in net exchange outflows over the past week as prices declined toward a critical technical support level near $3,000. On-chain data and chart structures now converge at a closely watched level.
Data shared by Sentora shows Ethereum’s weekly exchange netflow reached a negative $978.45 million. This movement reflects a large net withdrawal of ETH from centralized trading platforms.
Ethereum price traded near $2,960 during the same period. Market participants continue monitoring whether this level can hold amid ongoing price weakness and tightening exchange balances.
Exchange Netflow tracks the balance of Ethereum moving into and out of centralized exchange wallets. A positive reading indicates more deposits, which often align with selling activity. During the past week, the metric stayed firmly negative. Outflows outweighed inflows as investors withdrew ETH from exchanges at a notable scale.
Sentora stated the pattern reflects aggressive accumulation. According to the data provider, traders bought during the price decline and moved assets to cold storage or on-chain environments.
This behavior reduced the liquid supply available on exchanges. The withdrawals occurred even as Ethereum prices moved lower during the same period. What does sustained exchange outflow during a price dip suggest about investor positioning?
A long-term weekly chart shared on X by Crypto Caesar shows Ethereum consolidating within a broad multi-year structure. The chart spans from mid-2023 into projections beyond 2026. ETH price traded around the $3,000 region on the chart. A wide blue demand zone sits just below $3,000 and has acted as support and resistance across several cycles.
Price action shows repeated reactions around this band. Candles cluster tightly near the zone, reflecting consolidation rather than directional expansion. Above current levels, a horizontal resistance line appears near $4,000. Past rallies stalled near this region during prior advances.
The chart also marks a previous local top between $4,800 and $5,000. That peak followed a sharp impulsive move before the price retraced toward current levels.
Below current prices, the chart displays multiple accumulation zones. These shaded regions sit between $1,200 and $1,600, with deeper demand extending toward $800 to $1,000. These zones align with areas where Ethereum was previously based before major rallies. The structure suggests defined downside reference points if current support fails.
A descending trendline appears broken earlier in the cycle. That breakout preceded the strong rally toward recent highs. Crypto Caesar stated that holding the current level keeps the broader structure intact. The statement links price stability near support with continued bullish positioning based on the chart.
The analyst added that a loss of the level would expose deeper demand zones. Market focus remains fixed on whether Ethereum maintains this range as exchange balances continue to decline.
Also Read: Ethereum Price Drops: Where is the Next Support Level?
Ethereum recorded nearly $978 million in weekly exchange outflows as prices traded near the $3,000 support zone. Sentora data pointed to reduced exchange supply, while Crypto Caesar’s weekly chart mapped key resistance near $4,000 and defined deeper demand zones if support fails.
