Metalpha Makes Large ETH Withdrawal from Binance Amid Neutral Momentum

Metalpha has withdrawn 11,179 ETH from Binance in a significant move that highlights large ETH withdrawals from the exchange. This development comes as Ethereum (ETH) trades at $2676 amid neutral momentum.

The withdrawal is worth approximately $30.12 million and has sparked interest in institutional positioning. According to Lookonchain data, Metalpha made this transfer just an hour ago.

Analysts are keeping a close eye on the situation as it could shape the next ETH price prediction leg before any potential crypto market crash signals emerge. The current technical analysis suggests that ETH is sitting inside its Bollinger band with EMA50 support at $2644 holding the bullish structure, but the MACD death cross warns of near-term pressure.