Ethereum traders uncertain following recent price movement, declining CEXs ETH holdings hints at rally

Ethereum holdings on centralized exchanges continue to decline despite recent whale sales. With Robinhood Crypto as the latest recipient of the SEC's Wells notice, Ethereum spot ETFs look more unlikely. Ethereum could see a decline to key support level before attempting a bounce back to the $3,300 key level. Ethereum's price movement on Monday is leaning toward short traders following investors' uncertainty in the wider crypto market.

ETH technical analysis: Ethereum price movement shows investors uncertainty After moving above the $3,161 key resistance, Ethereum appears to be on a downtrend, shedding about 2.7% of its value on Monday. With the absence of key macro and crypto events in the coming days, traders seem uncertain about the market's direction. However, recent price movements seem to be tilting toward the short direction, as long traders have seen liquidations worth $34.22 million in the past 24 hours.

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