6 mln ETH gone forever: Will shrinking supply fuel Ethereum’s $4K run?
Main Idea
Ethereum is facing a supply crunch due to significant ETH being permanently removed from circulation, which may influence its price movement towards $4,000 despite resistance at $3,800.
Key Points
1. Ethereum is retesting the $3,800 resistance level, a zone that previously triggered an 8.5% price drop to $3,531.
2. Over 6 million ETH has been permanently removed from supply via burns and lost keys, tightening the available float.
3. Validator exits now exceed 694k ETH, with a net staking outflow of 473,151 ETH, contributing to the supply crunch.
4. Despite resistance, Ethereum's technical structure remains strong, with potential for a breakout if it reclaims the $3,800 level.
5. The circulating supply for futures or margin trades is thinning rapidly, which could amplify price movements.
Description
Ethereum faces $3,800 resistance again, but this time, the supply crunch is real.
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