1alt HD: If Bitcoin falls below $60,000, traders focus on Ethereum target below $1,300
Sidelined stablecoins wait for Binance as Ethereum reserves plummet to new lows
Ethereum prepares for explosive volatility due to collision of on-chain and technical signals
Gramsterdam Ethereum ($ETH) is scheduled to be rolled out in the third quarter of 2026, AMBCrypto reported. This upgrade focuses on transaction processing, allowing multiple transactions to be processed simultaneously, and updating pricing rules to support higher network capacity.
The gains in speed, capacity, and efficiency are big wins for one of the largest Layer 1 networks in the cryptocurrency space, but they may not have an immediate impact on price.
While Ethereum has been attracting institutional buyers, the market-wide sell-off has not significantly eased.
Ethereum’s recovery could accelerate as dry powder is sidelined
In a post on CryptoQuant Insights, analyst CryptoOnChain drew attention to the increase in stablecoin net inflows to Binance. at the same time, $ETH is flowing out of exchanges, leading to a decrease in reserves.
The increase in stablecoin deposits on exchanges represented the purchasing power of onlookers. Negative 7-day net transfer amount is $ETH Leaked from the exchange.
However, Coinbase premiums have fallen in recent weeks, indicating that US-based investors are not yet willing to bet on a price recovery.
These indicators set the conditions for sharp price movements in either direction. More sales may be needed before the smart money stops waiting and steps in with significant capital.
Analyzing competing Ethereum signals
Ethereum’s weekly chart showed a bullish swing structure. Importantly, it broke above the 78.6% retracement level at $2,147. The internal structure is bearish and sellers have been in control for almost 10 months.
They seem unlikely to relinquish market power anytime soon. The daily chart has a bearish structure and was below the February lows earlier this month. This breakdown signaled bearish continuation.
Technically, a bounce back to the major retracement levels of $210,000 and $2,260,000 is possible, but that is unlikely if Bitcoin (BTC) falls below $60,000 again.
Therefore, traders and investors can expect a move towards the southward extension level at $1,278 next.
Final summary
- The Ethereum exchange outflow represented an accumulation, and the supply of stablecoins was increasing. Investors were waiting for the right time to buy.
- That right moment may not come soon. Both the Coinbase Premium Index and price trends indicate that sellers are in control at the moment.
