Ethereum Trading on Binance Goes Quiet — What Could Happen Next

Ethereum has regained the psychological level of $2,100, a positive development, but one occurring amid reduced market participation. Liquidity on major exchanges has fallen to annual lows, and ETH’s monthly volume has declined to 16.65 million—below 2025 levels. The price is also struggling to hold above the 200-week moving average after losing key supports, which is widely viewed as the last technical line of defense before a larger capitulation.

CryptoQuant findings: stable reserves, weaker turnover

According to a CryptoQuant report, Binance reserves remain stable at 3.32 million ETH. However, asset turnover has dropped sharply, suggesting that while exchange holdings have not materially decreased, trading activity has weakened. The weekly RSI is described as sitting in tense neutrality as the market attempts to stay above the 200-week moving average.

The combination of stable reserves and falling turnover points to a market that is not being driven by supply changes, but rather by a lack of active demand. In this environment, rallies can appear reactive rather than supported by aggressive accumulation.

Low liquidity and market vulnerability

The report highlights that reduced volume can weaken the quality of any upward move. Without strong accumulation, ETH remains exposed to high-volume sell orders. The market is therefore characterized by low friction, where external catalysts could trigger volatile and potentially disproportionate price swings.

Technical picture: moving averages and key levels

Even though exchange inventory has not fallen, traders appear cautious, reinforcing the divergence between steady reserves and decreasing activity. Analysts note that periods of low liquidity often precede strong directional moves.

On the technical side, Ethereum has failed to recover the 50- and 100-week moving averages, which are now acting as dynamic resistance. These levels are described as blocking progress toward $2,800. Meanwhile, Ethereum is attempting to defend vital support levels, but the lack of backing volume leaves the recovery vulnerable.

What would confirm a trend change

For a more durable trend shift, the report states that Ethereum would need to overcome $2,600 with a significant increase in institutional participation. Without that, the current recovery remains uncertain.