Ethereum’s exchange reserves fell to a weekly low, with the reported figure standing at $3.2 million, although the decline does not rule out holders transferring ETH to exchanges or selling through other platforms in the future. Over the past 24 hours, ETH funding rates dropped by 56% to 0.004, indicating reduced demand for leveraged longs and a shift toward bearish sentiment in the perpetual futures market. A wallet linked to the Ethereum Foundation recently sold 2,785 ETH, worth approximately $6.42 million, through CoWSwap. Meanwhile, ETH broke below its ascending trendline support near $2,350 while trading at $2,317 at the time of writing. If the price fails to reclaim the level, sellers may retain control, while a sustained move above the broken trendline supported by spot demand would challenge the bearish case.
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