Ethereum Eyes $3,500 Barrier: Breakout Potential Fueled by Shrinking Exchange Reserves

Ethereum is poised for a potential breakthrough to the $3,500 mark as declining exchange reserves signal growing long-term holder conviction. Trading just below its 50-week EMA at $2,573, ETH’s price action suggests an imminent breakout. Analysts attribute this anticipation to the expanding DeFi ecosystem and increasing institutional investments.