Ethereum continues to surprise! 📉 Since the beginning of 2024, the ETH price has fallen, but the last 24 hours give hope for a change. On the daily chart, we can see that the asset is consolidating between $2,100 and $2,700, which may indicate the formation of a bottom. However, to confirm the uptrend, the price must overcome $2,700.

On the 4-hour chart, we can see that the market has bounced from $2,100 and is slowly rising. The momentum is still weak, but the bullish candles are getting stronger, which may lead to a move to $2,700.

However, on-chain analysis shows a worrying signal: ETH reserves on exchanges are growing, which may increase selling pressure. If demand does not increase, a short-term decline is possible.