#Crypto_Jobs🎯 Market Status
The current price of Ethereum is $2,106.06, reflecting a decrease of 7.2% over the past week.
ETH reserves on Binance have dropped to 4.0 million, the lowest level since 2016, indicating strong accumulation off exchanges.
The relative strength index reading of 8 suggests that Ethereum is in a significantly oversold condition, which could set the stage for a technical rebound.
Driving Factors
Large investors (whales) are accumulating ETH, reducing supply on exchanges and increasing its scarcity.
The trend of users transferring ETH to self-custody wallets is increasing, indicating long-term confidence.
BlackRock's $2.2 billion move, which includes BTC and ETH, highlights institutional interest in cryptocurrencies.
Trading Strategy
An oversold relative strength index and declining exchange reserves may present a buying opportunity against the prevailing trend.
Traders might consider long buy positions with tight stop-loss points, targeting a retest of the $2,300 level.
Good luck
