Ethereum rebounds as holders move coins off exchanges

Ethereum (CRYPTO:ETH) has shown "mild signs of a rebound" and outperformed the broader crypto market, reaching a 12-day high, according to Santiment. 

On February 18, ETH gained 2%, while the wider crypto market retreated by 2.4%. 

Santiment reported that ETH continues to move off exchanges into cold wallets at a "shocking pace," with only 6.38% of the available supply remaining on exchanges. 

This movement suggests investors are holding, decreasing the probability of a major sell-off. 

Analysts at Santiment noted that after underperforming relative to other large-cap cryptocurrencies in 2024, there has been anticipation of a rebound when market-wide recoveries begin. 

However, not everyone is convinced, with crypto YouTuber Lark Davis commenting on the short-lived nature of Ethereum's gains. 

Ethereum experienced significant price volatility on February 7, 2025. 

After reaching a peak of $4,100, Ethereum experienced a gradual decline in its price, bringing it down to the $2,900 support level.  

Changelly's Ethereum price forecast indicates a potential increase to $2917.85 by February 19, 2025. 

However, ZebPay reported that ETH, after breaking the psychological support of $3,000, plunged by almost 29%, making a low of $2,125. 

Recent trends indicate aggressive Ethereum accumulation by whales. 

During a recent price dip, over 100,000 ETH was purchased, signaling strong institutional and large-scale investor interest. 

At the time of reporting, the Ethereum (ETH) price was $2,671.67.