• ETH exchange supply drops to a decade low, fueling scarcity.
• BlackRock invests $45 Million in Ethereum.
• Technical charts point to a breakout toward $3,000.

Ethereum price is gaining bullish momentum as exchange supply reaches its lowest level in a decade. This shift suggests growing confidence among long-term holders and rising institutional interest in the asset.

Ethereum price continues to rise while the supply on centralized exchanges declines. On-chain data shows that ETH balances on exchanges have dropped to a 10-year low. This trend suggests investors are moving ETH to cold storage or decentralized platforms.

Lower exchange supply often reduces selling pressure. With fewer coins for trading, upward price movement becomes more likely if demand grows. Bitcoin also shows a similar pattern, with exchange balances at their lowest in eight years.

Market analysts note that investors are positioning for long-term gains. The reduced ETH supply may create a supply crunch if demand increases in the coming months.

Ethereum price received another boost following BlackRock’s recent $45 Million ETH purchase. As the world’s largest asset manager, BlackRock’s entry into Ethereum adds institutional credibility to the asset.

Institutional ETH purchases typically involve secure custody solutions. These coins are removed from circulation, tightening the available supply. With the supply of exchanges already low, this can further increase the pressure on the Ethereum price.

BlackRock is also a major advocate for asset tokenization. Ethereum remains the leading platform for tokenizing real-world assets. Its use in smart contracts and decentralized applications positions it well for long-term growth.

Ethereum price has confirmed a bullish breakout after forming a falling wedge pattern, a classic reversal signal. The pattern developed between January and March 2025, consolidating price action between two downward-sloping trendlines.

This setup often suggests a weakening of bearish momentum and a potential trend reversal. ETH broke out of the wedge in early April with a strong bullish candle, confirming the pattern’s validity.

Since the breakout, the Ethereum price has rallied sharply from around $1,700 to $2,562.70. Price approaches the pattern’s projected target, indicating that bullish momentum remains intact.

Some technical indicators indicate that the price of Ethereum may continue to rise. The RSI indicates that it is at 70.02, which is approaching the overbought zone. Often, this level marks a point where the trend changes because buyers want the asset strongly.

Based on the MFI reading 75.62, a lot of money is still coming into Ethereum. Even though an MFI above 80 could create some concern, the current levels still point to an ongoing positive trend.

Net positive buying pressure in the market can be seen at 1.32 K with CVD. The fact that buyers are in control over sellers in trades strengthens the ongoing rally in the market.

Across several time horizons, Ethereum is building a bullish pattern. Market analyst CryptoPatel says the asset has achieved successive higher lows since it hit rock bottom in 2022. ETH keeps breaking through support in the $1,400 to $1,700 range.

These two price points, $3,700 and $4,700, are still essential for Bitcoin to break out from. Breaking past these prices might allow the Ethereum price to reach a new high value. CryptoPatel believes ETH will be between $8,000 and $10,000 by the end of this cycle.

Analyst ali_charts also spotted an inverse head and shoulders pattern in the 1-hour chart. A break above the $2,588 resistance level created a short-term bullish situation. The next level the price of Ethereum can reach is $3,000 if it keeps moving up.

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.