Ethereum Keeps Rising Channel as Record Exchange Outflows Fuel Bullish Sentiment

Ethereum's price prediction remains bullish above $2,410 as it continues to hold inside a rising channel. This channel has contained Ethereum's price since its mid-August breakout from $1,900.

The channel's lower boundary sits near $2,410, closely aligned with the 20-day EMA at $2,410.67. Bullish investors are watching this level as it could be crucial in keeping this month's rally intact.

Ethereum exchange outflows have hit a record high of $2.48 billion this week, with net outflow from exchanges reaching $1.16 billion yesterday alone.

This divergence suggests that Ethereum holders are moving coins off exchanges at a record pace, which is typically seen as bullish since it shrinks the pool of available sell-side supply.