200K ETH in 2 Days: Brewing Ethereum Rally or Just an Internal Shuffle?

Ethereum (ETH) slipped once again below the $3,800 mark, but several factors suggest a substantial price rebound could be ￰0￱ such element is the reduced number of tokens stored on cryptocurrency ￰1￱ the other hand, some analysts warn that the asset might be poised for an even more severe pullback in the short ￰2￱ to Self-Custody? The renowned analyst on X, Ali Martinez, revealed that 200,000 ETH have been withdrawn from crypto exchanges in the past 48 hours ￰3￱ USD equivalent of the stash is around $770 million (calculated at current rates). The development signals that investors have been abandoning centralized platforms and moving their holdings into self-custody wallets, thereby reducing immediate selling ￰4￱ this week, the total amount of ETH stored on crypto exchanges dropped to a nine-year low of around 15.8 million coins, while today’s figure is quite close to that ￰5￱ Exchange Reserves,) in the last ￰6￱ move may include withdrawals, deposits, internal transfers, or other operations that differ from the other development.

Separately, Ethereum’s Relative Strength Index (RSI) stands clearly on the bullish side (at least as of now). The technical analysis tool, which measures the speed and magnitude of recent price changes, is just north of 30, which puts it close to the oversold zone and poised for a potential surge. Conversely, ratios above 70 suggest the asset is overbought and are considered bearish for the ￰7￱ RSI,