Big moves by Ethereum whales are pushing the crypto closer to a $2,000 milestone. On July 29, wallet 0x2d59 withdrew 40,000 ETH, valued at around $76.6 million, from Binance in two separate transactions first 30,000 ETH, then another 10,000 ETH shortly after. Such large outflows often signal strong buying intent as holders move assets off exchanges to private wallets.
The ETH price hovers near $1,930, facing resistance at the 100-day exponential moving average (EMA). After a significant dip in June, Ethereum has steadily created higher lows and fought off selling pressure, showing signs of a technical rebound. Currently, ETH trades above its 50-day EMA at $1,760 and 20-day EMA at $1,850, indicating positive momentum in both short- and mid-term perspectives.
This trend suggests investors are gearing up for a breakout beyond $2,000. Coin withdrawals from Binance highlight confidence in holding positions or deploying capital into decentralized finance rather than immediate selling. Ethereum’s resilience amid market fluctuations adds to the expectation that the $2,000 mark could be within reach soon.
Coinbase and Robinhood earnings also set the tone for crypto markets this quarter, complementing Ethereum’s upward momentum.
This content is for informational purposes only and does not constitute financial advice.
