Ethereum’s Short-Term Outlook Wobbles: Exchange Inflows Spike as Open Interest Craters

Ethereum bulls hit a speed bump as fresh data signals potential turbulence ahead.

Warning signs flash as ETH floods exchanges

Smart money's pulling back—open interest nosedives while retail piles in. Classic recipe for a shakeout when the 'weak hands' meet institutional sell walls.

Remember kids: in crypto, when exchanges start filling up like Black Friday Walmart shelves, someone's about to get rekt. The only question is whether it'll be the overleveraged degens or the latecomers chasing last week's rally.

Although oscillators like the Stochastic RSI are approaching overbought territory, which limits the potential for short-term upside, momentum and MACD indicators display mild bullish signals.

Longer-term averages are still above the current price, suggesting broader weakness. Short-term moving averages, such as the 10-day and 50-day exponential averages, are offering little support.

The next upward target might be the upper Bollinger Band around $2,622 if buying pressure returns and Ethereum breaks above $2,500 with increased volume and rising open interest. If current support gives way and exchange inflows keep outpacing demand, the price might retest the lower band around $2,287, increasing the risk of a deeper pullback.