Ethereum Price Targets $3K as Exchange Supply Hits 11-Year Low, Shorts Lose $105M

• Ethereum price is building toward another breakout as exchange supply falls 73% from its 2020 peak to just 6.06 million ETH
• Ali Charts sees a breakout toward $3,000 if ETH clears its current 12-hour triangle, after a similar setup previously delivered a 30.9% rally
• The latest move above $2,600 triggered roughly $105 million in short liquidations within an hour, showing how quickly momentum can build

Ethereum’s price is trying to build another run above $2,600, but the more interesting story is happening away from the chart. ETH sitting on exchanges has dropped to its lowest level in more than a decade, while staking and ETF demand continue pulling coins out of the liquid market. The tightening Ethereum supply is arriving just as leveraged traders are being caught on the wrong side of increasingly sharp price moves.

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Ethereum Price Gets $3K Target as Exchange Supply Dries Up

Santiment data shows just 6.06 million ETH sitting on tracked exchanges, down from a peak of 22.9 million in June 2020. This points to a decline of about 73% in Ethereum exchange supply.

A large chunk of ETH is simply going elsewhere. ValidatorQueue currently shows about 43.2 million ETH staked, or more than 35% of the circulating supply. Another 1.8 million ETH is waiting to enter staking, compared with fewer than 6,000 ETH waiting to exit.

ETFs are taking supply off the market too. US spot Ether funds recorded $216.4 million in net inflows on September 11, according to Farside Investors, their strongest daily intake since late August.

It does not guarantee a rally, but it leaves fewer coins immediately available for sale when demand picks up. The latest surge showed how quickly that can matter. ETH broke above $2,600 during a sharp move that triggered more than $100 million in Ethereum liquidations within an hour.

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Ethereum Prediction Puts $3,050 in Play

Ali Martinez, known as Ali Charts, sees $3,000 as the next major level for Ethereum price if the current 12-hour pattern breaks to the upside. His chart shows ETH forming another triangle after a similar setup previously produced a 30.9% rally in just three days. A repeat of that move from the current range would put the ETH price close to $3,000.

This comes as Ethereum has already shown it can move quickly once momentum returns. Reports revealed that ETH gained 37% over a 10-day stretch before topping near $2,564 and moving into consolidation. The rally created a different bullish chart formation, a flag pattern, showing that traders were already watching for another leg higher before the latest triangle developed.

For Ali’s Ethereum price prediction to play out, the important part now is whether ETH can break cleanly above the triangle rather than slipping back into the range. A confirmed breakout would bring $3,000 back into view, while another rejection would leave the target waiting for a stronger catalyst.

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