\t\t\t\t\t\t\t\t![](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/IMG_20230322_164923565_2-scaled-e1679645058899-80x80.jpg\")
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\t\t\t\t\t\t\t\tPosted: September 17, 2023 After months of less volatility, top cryptos like<\/span> Ethereum [ETH]<\/span><\/a> might see a change in trend. The possibility seemed likely as buying pressure on ETH was on the rise. If the increase in accumulation starts to show its effects, then the king of altcoins might soon reach the $1,800 mark again.<\/span><\/p>\n Read<\/span> Ethereum\u2019s [ETH] Price Prediction<\/span><\/a> 2023-24<\/span><\/p>\n Santiment\u2019s 15 September tweet revealed an optimistic development that hinted at an increase in volatility in the crypto market. Reportedly, Ethereum\u2019s exchange supply declined, as traders appeared content with their holdings. <\/span><\/p>\n The above development was accompanied by a rise in Tether\u2019s [USDT]<\/a> supply of exchanges. This was a positive outcome, as an increase in Tether\u2019s supply could mean that investors might further increase accumulation.<\/span><\/p>\n \ud83d\udc4d #Bitcoin<\/a>‘s & #Ethereum<\/a>‘s exchange supply has resumed going lower as traders appear content #hodling<\/a>. And the even better news is that #Tether<\/a> is moving back on to exchanges, now at the highest level since March. This indicates more future buy interest. https:\/\/t.co\/j5aviy3b5F<\/a> pic.twitter.com\/22b90022aB<\/a><\/p>\n \u2014 Santiment (@santimentfeed) September 15, 2023<\/a><\/p>\n<\/blockquote>\n A closer look at<\/span> ETH<\/span><\/a>\u2019s on-chain performance suggested that investors were already stockpiling the token in hopes of a price rise in the near future. According to<\/span> CryptoQuant<\/span><\/a>, both ETH\u2019s exchange reserve and net deposits on exchanges were dropping. <\/span><\/p>\n Moreover, Ethereum\u2019s supply outside of exchanges flipped its supply on exchanges. Supply held by top addresses also increased, suggesting that the whales were buying the token.<\/span><\/p>\n Source: Santiment<\/p>\n<\/div>\n Upon checking Ethereum\u2019s metrics, a few other bullish signals were also revealed. For instance, over the last week, Ethereum\u2019s funding rate turned green, meaning that it was in demand in the derivatives market. <\/span><\/p>\n Positive sentiment around the token also remained relatively high, and its MVRV ratio improved, suggesting a possible price uptick.<\/span><\/p>\n Source: Santiment<\/p>\n<\/div>\n Though the metrics looked bullish, a look at ETH\u2019s daily chart painted a different picture of what the token\u2019s near-term future might look like. Most of the market indicators remained bearish on the king of altcoins and suggested that its price could go down further. <\/span><\/p>\n The Chaikin Money Flow (CMF) and Money Flow Index (MFI) registered downticks. Moreover,<\/span> ETH<\/span><\/a>\u2019s Relative Strength Index (RSI) was resting below the neutral mark of 50.<\/span><\/p>\n Source: TradingView<\/p>\n<\/div>\n Is your portfolio green? Check out the<\/span> ETH Profit Calculator<\/span><\/a>\u00a0\u00a0\u00a0\u00a0<\/span><\/p>\n As per the Bollinger Bands, Ethereum\u2019s price was in a less volatile zone, which decreased the chances of a price uptick in the near future. However, one indicator still remained in the buyers\u2019 favor.<\/span> ETH<\/span><\/a>\u2019s MACD pointed out that the bulls were still controlling the market. <\/span><\/p>\n
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\nBuying pressure on Ethereum is high<\/b><\/h4>\n
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![\"\"](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Ethereum-ETH-15.11.17-16-Sep-2023.png\")
<\/a><\/p>\nEthereum\u2019s investors can expect this<\/b><\/h4>\n
![\"\"](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Ethereum-ETH-15.38.11-16-Sep-2023.png\")
<\/a><\/p>\n![\"\"](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/ETHUSD_2023-09-16_15-46-38.png\")
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