Coin Edition -
- Monitoring BitMEX Ethereum reserves helps predict potential price trends based on investor deposit and withdrawal behaviors.
- Analysts examine Ethereum’s support levels and potential price reversals, highlighting two possible scenarios for future movements.
- Historical volume increases in resistance areas present challenges for Ethereum’s price breakthrough, affecting future trends.
Analytics firm CryptoQuant has highlighted the importance of tracking Ethereum (ETH) reserves on the BitMEX exchange as a potential indicator of future price movements.
The “exchange reserve” is an on-chain metric tracking the total amount of ETH in centralized exchange wallets.
The importance of Bitmex exchange #ETH reserves“When Bitmex #Ethereum whales buy through Bitmex, we observe a decrease in reserves. Conversely, when they sell, we see an increase in Bitmex reserves.” – By @BlitzzTrading Read more