"ETH Outflows Surge: Investors Accumulate Amidst Bearish Sentiment"

Ethereum's (ETH) price has been a subject of intense scrutiny and speculation in recent days, with analysts and investors alike keeping a close eye on its movements. After a sharp decline across the cryptocurrency market, sentiment has shifted, and ETH, the world's second-largest cryptocurrency, has been gaining significant attention.

Data from spot inflows and outflows revealed that exchanges witnessed outflows of $180 million in ETH in the last 48 hours. This could indicate accumulation by investors and long-term holders, taking advantage of the recent price drop. Such outflows from exchanges can fuel buying pressure and lead to a further upside rally.

Intraday traders, however, seem to be betting on the bearish side, with the current market sentiment influencing their decisions. ETH's exchange liquidation map revealed that traders may be over-leveraged at the $2,712-level on the lower side and $2,870 on the upper side, hinting at the actual support and resistance levels for the altcoin.

If the market sentiment remains unchanged and the price falls to the $2,712-level, nearly $365 million worth of long positions will be liquidated. Conversely, if the sentiment shifts and the price crosses the $2,870-level, approximately $406 million worth of short positions will be liquidated. These liquidation levels suggest that the bulls are weak, while traders holding short positions have been leading the asset at the intraday level.

For the longer time frame, popular crypto expert Ali shared a post on X (formerly Twitter), stating that if ETH holds above the $2,500-level, there is a strong possibility it could rebound to $4,000 or even $6,000 in the future. Meanwhile, if the altcoin fails to hold this level and closes a daily candle below $2,500, it could fall to the $1,700-level – Its next support.

AMBCrypto's technical analysis suggested that ETH was near the crucial support level of $2,800 at press time, with the altcoin consolidating at this level for the last three days. Based on the latest price action, if ETH rallies and closes above the $2,880-level, it could see a price surge of