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The post <a href="https://cryptosnewss.com/ethereum-faces-potential-10-drop-as-exchange-supply-rises/" rel="noopener noreferrer nofollow">Ethereum Faces Potential 10% Drop as Exchange Supply Rises </a>appeared first on <a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow">Cryptos Newss</a>.Ethereum is bracing for a potential 10% price drop, driven by increasing supply on exchanges. Analysts suggest that the rising Ether balances on trading platforms indicate a possible sell-off, adding to bearish pressures on the cryptocurrency.<a href="https://cryptosnewss.com/eth-price-surge-ethereum-bulls-look-to-break-2850-resistance/" rel="noopener noreferrer nofollow">Ethereum (ETH)</a> is facing significant downward pressure as its supply on exchanges continues to rise. According to recent data, the amount of Ether held on various exchanges has reached a four-week high, suggesting that investors might be preparing to sell.This increase in supply is often seen as a bearish signal, as it indicates that more tokens are available for trading, potentially driving prices down.The overall market sentiment for Ethereum has been impacted by several key factors. One of the primary concerns is the decreasing total value locked (TVL) in Ethereum-based decentralized finance (DeFi) protocols.TVL is a critical metric that represents the total amount of assets staked in DeFi platforms. A decline in TVL suggests that users are withdrawing their assets, which could be due to waning confidence in the Ethereum network or seeking better returns elsewhere.Additionally, Ethereum&#39;s high transaction fees have been a significant deterrent for users. The exorbitant fees, often referred to as &#34;gas fees,&#34; make it expensive to conduct transactions on the Ethereum network.This has led to a migration of users and developers to alternative blockchain networks that offer lower fees and faster transaction times.As Ethereum struggles with these challenges, its price has been fluctuating, struggling to maintain its momentum. The cryptocurrency has faced resistance at key levels, unable to break through the $2,675 and $2,700 marks.These resistance points are crucial for Ethereum to overcome if it hopes to initiate a fresh rally. On the downside, the primary support levels are around $2,600 and $2,580. If the price falls below these supports, it could lead to a deeper correction, potentially pushing the price down to $2,500.As Ethereum navigates this period of uncertainty, investors need to stay informed about market trends and key metrics. The increasing supply on exchanges and high transaction fees are significant factors contributing to the current bearish outlook.To mitigate risks, investors should consider diversifying their portfolios and keeping a close eye on support and resistance levels. While the short-term outlook may be challenging, the long-term potential of Ethereum remains strong, provided that the network addresses its scalability and fee issues.Adapting to these changes and maintaining a cautious approach will be crucial for navigating the evolving cryptocurrency landscape.The post <a href="https://cryptosnewss.com/ethereum-faces-potential-10-drop-as-exchange-supply-rises/" rel="noopener noreferrer nofollow">Ethereum Faces Potential 10% Drop as Exchange Supply Rises</a> appeared first on <a href="https://cryptosnewss.com" rel="noopener noreferrer nofollow">Cryptos Newss</a>.

Ethereum Faces Potential 10% Drop as Exchange Supply Rises

Cryptos Newss

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