A significant technical figure has formed on Ethereum (ETH) – a symmetrical triangle on the 12-hour chart, which has begun to influence the performance of liquid tokens in the ERC-20 ecosystem. As ETH prepares to retest the resistance level at $2,474, project tokens like Shiba Inu (SHIB) are showing unusual capital redistribution among major players. The current model suggests the possibility of ETH reaching $3,000, which could lead to changes in tokens linked to its dynamics.
Analysis conducted by Ali Martinez (Ali Charts) shows that after the previous breakout of a similar figure, ETH rose by 31% in three days. Just before the formation of the figure, large holders withdrew over $300 million in ETH from exchange addresses to cold wallets. Against the backdrop of reduced supply, the coin is holding in the range of $2,480–$2,510 after testing an eight-month high of $2,660. The historically high liquidity of SHIB in the ERC-20 ecosystem makes the token a natural 'lever' for traders taking profits on Ethereum movements and a primary proxy asset for the current market cycle.
On the spot market, SHIB/USD is trading within $0.00000513–$0.00000527, with the relative strength index (RSI) on the daily timeframe at a neutral 52.14. According to capital movement data: Binance recorded net outflows of $122.02K, while Coinbase saw $156.07K, indicating withdrawals for long-term storage. Meanwhile, OKX (+$199.48K) and Bybit (+$93.82K) showed net inflows. The majority of spot liquidity remains concentrated on Binance ($2.31M), while the daily trading volume on Bybit has dropped by 64.49% to $603.10K.
Related articles
