Ethereum dey drop as flow from Binance exchange turn to sell pressure
Ethereum dey struggle to stay above $2,150, as rebounds dey fade because exchange-flow sell pressure and trend uncertainty don come back. Binance exchange flow dey on top: for May 10, about 250,000 ETH enter exchanges, and Binance alone collect roughly 225,000 ETH (~90% of the day’s total). That concentration show say short-term direction of Ethereum dey mostly driven by wetin happen for Binance.
After May 10, the flow picture change. Binance reportedly flip from net inflow to net outflow, send about 12,000 ETH back out, while the all-exchanges aggregate still show smaller net inflow (~20,000 ETH). This mismatch point to venue-specific distribution not broad market-wide selling.
Technically, Ethereum dey trade near $2,115 after e lose the $2,150 support area. E still below key moving averages (100-day and 200-day), and volume don rise on rejections near $2,350, consistent with active distribution. Traders dey watch $2,050–$2,100 support; confirmed break fit open door to the $1,900–$2,000 demand zone.
Bearish
Di whole article dem point Binance as di main channel wey dey cause Ethereum weak. For early May, plenty ETH dey enter exchanges steady, wey traders dey often see as possible sell pressure. Di latest update add one important nuance: on May 10, Binance carry most of di inflows, then later e turn to net outflow. Dat change for that venue level show say distribution activity bin concentrated for Binance, no spread across di whole market.
For trading, di immediate risk na say di $2,050–$2,100 support area fit no fit absorb di supply wey dey, especially with Ethereum still under major moving averages and with high rejection volume. Short term, if support break confirm e fit make downside quick reach $1,900–$2,000. Long term, bullish stabilization likely need real spot-style accumulation (not just less inflows), so traders suppose watch whether Binance inflows remain low and whether volume shift to accumulation near support.