- Leveraged ETH trader liquidated $5.53M in sales to prevent further losses.
- Ethereum reserves on exchanges drop to lowest levels seen in years.
- Price tests $4,191 resistance, with support holding at $3,684 amid rally.
Ethereum’s recent price rally has renewed pressure on leveraged traders. Lookonchain data showed that the trader sold 1,451 ETH for $5.53 million USDC within the past 18 hours.
The sale was deposited into Hyperliquid to prevent further liquidation. Despite this, the trader still holds 10,000 ETH worth about $40.8 million.
His current liquidation threshold stands at $4,015.86 per ETH. Earlier liquidations had set the threshold at $4,114.3, pushing realized losses to roughly $15 million.
Exchange Reserves Drop to Multi-Year Lows
Meanwhile, CryptoQuant data revealed Ethereum exchange reserves at 18.8 million ETH, the lowest in years. The chart shows a steady multi-year decline in ETH held on centralized exchanges.
This trend has aligned with the recent price surge to around $3,860. Analysts suggest that the sharp drop in available supply could lead to increased volatility in coming months. Reduced liquidity has often fueled stronger price movements during past market cycles.
Price Tests Resistance Amid Bullish Momentum
At press time, Ethereum is trading at $4,193.30, showing strong upward momentum. The immediate support level is around $3,684, while resistance lies near $4,191. The asset is currently testing that resistance.
A breakout above this level could open the door for further price gains. Maintaining support would help sustain the bullish trend in the short term.
Tightening supply conditions and active market participation could also influence price behavior. Some expect that these factors may contribute to a broader altcoin rally in Q3 and Q4 2025.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
