Ethereum Consolidates Near $2.5K as Exchange Reserves Decline

Ethereum has been trading in a consolidation phase after a significant price surge from $1.5K to $2.5K.

The cryptocurrency is currently holding firm around $2.47K, with repeated tests of the upper end of its recent range.

Exchange reserves have been declining steadily, indicating fewer coins are available on exchanges for potential selling, which could be a supportive factor if demand continues to expand.

However, ETH is still trading inside a significant resistance zone around $2.4K-$2.5K, with the current price near the upper end of this range.