How Ethereum low supply on exchanges could drive up ETH price

[Btceth01]

Research firm Santiment has determined that Ethereum’s supply radius on exchange platforms is at a 28-month low. With 20.1% of ETH in its reserves, the last time the metric was at similar levels was in November 2018.Above is a look at the relationship between the increase in Ethereum supply on the exchanges and fluctuations in its price. ETH’s rally in recent months corresponds to a sustained decline in this metric.
Ethereum is trading at $1,808 with bearish performance in the 24-hour chart. However, in the last hour ETH is showing an uptrend with 0.3% gains, after a week of negative performance. If the cryptocurrency manages to stay above the current level it could gain more momentum and go after resistance at $1,850. Source