Ethereum’s balance on cryptocurrency exchanges is surging, which could indicate a sell-the-news event, according to a well-known crypto analyst. Ali Martinez, a popular crypto trader, highlights that over the past two weeks, a substantial amount of ETH has been transferred to wallets linked to crypto exchanges. This increase in trading activity on exchanges may contribute to price volatility. Martinez points out that this surge in ETH transfers is happening as the Tom DeMark Sequential Indicator is flashing a sell signal on Ethereum’s daily chart, suggesting a potential sell-off or profit-taking spike. The indicator is commonly used to predict trend reversals based on previous closing prices. Martinez concludes by stating that if Ethereum closes above $4,170, it could pave the way for a price level of $5,000. Earlier this week, the Ethereum ecosystem experienced a rise as proposals for ETH-based exchange-traded funds cleared a significant regulatory hurdle. Currently, Ethereum is trading at $3,732, with a 2.31% decrease in the last 24 hours.