Today, Ethereum (ETH) witnessed $37.17 million withdrawal from the exchange, according to data reported by Data Nerd. Withdrawal activities could be a sign of a potential price increase. Such actions often suggest future changes, but it is important that Crypto users explore what they expect next.
Two fresh wallets totally withdrawn from $14,739 ETH (~$37.17m) #coinbase and #kraken
– 0xd22 withdrawal 10,781 $eth (~$27.18m)
-0xd46 retracted 3,958$eth (~$9.99m)Address: https://t.co/pa6q6l9gdbhttps://t.co/am10mrczl4 pic.twitter.com/pe3wofxzs3
– June 1, 2025, Data Otaku (@onchaindatanerd)
37.17 million ETH has been withdrawn from the exchange
ETH is currently on the radar after two new wallets have chosen assets as the best investment opportunity. The two whales today withdraw a total of 14,739 ETH, worth $37.17 million, from Coinbase and Kraken.
Such substantial outflow from exchanges is a prominent accumulation that can build up purchasing pressure and boost even more upward momentum. Such large withdrawals usually occur before a significant price rise, suggesting an ideal time to buy Ethereum before the price rises further.
By engaging in such strategic investments, whales are reducing the supply of Ethereum on the exchange. This is a bold move that could lead to price increases. If this significant supply cuts change the balance of the market, large-priced gatherings become a reality.
What’s next for ETH?
Today, Ethereum is currently worth $2,508.18, a slight drop from its recent high of $2,681, recorded this Thursday, May 29th. The second-largest digital assets move in a tight integration range, centered around the $2,500 to $2,600 zone.
The current price for Ethereum is $2,508.18.
Bitcoin showed strength in one of its biggest price actions these days on May 22, climbing the new AHT for $111,814 on May 22. However, ETH price transfers are still stuck, not strong enough to surpass the main resistance region of $2,600 and $2,800.
Despite its upward movement, prices frequently avoid the rise above $2,600, highlighting concerns about the viability of the summit. Technical analysis shows that tokens are currently trading in a cup-and-handle pattern, indicating that after a short decline, the asset is likely to continue to rise momentum.
To get your assets out of the ongoing correction mood, they will need to get out of the $2,600-2,800 resistance region, which is difficult to conquer. In his technical analysis posted on X on May 30th, market analyst Daan Crypto revealed that ETH is experiencing a significant price range at a price level of $2,800. Analysts revealed that $2,800 is a significant price level in the Ethereum market. Climbing above this zone can exceed $3,000, and serves as a precursor to a substantial surge.