CryptoEthereum stuck below key price, ETH ETFs see more...

Ethereum stuck below key price, ETH ETFs see more outflows

-


Ethereum price has crawled back in the past few days but remains below a key resistance level. 

Ethereum (ETH) spiked on Saturday to exceed this month’s low of $1,762. At the time of publication, it was trading at around 1,940.57.

ETH, the second-biggest cryptocurrency, remains in a deep bear market after falling by over 53% from its highest level in December. 

One reason for the ongoing sell-off is that investors remain in the sidelines as the crypto and stocks market retreats amid President Donald Trump’s tariffs.

Third-party data shows that Wall Street investors have continued to sell their Ether ETFs. According to SoSoValue, all Ethereum ETFs shed over $143 million in assets this week, a big increase from the $119 million they lost a week earlier. 

They have lost assets in the last three straight weeks, bringing the cumulative total net inflows to $2.56 billion. Grayscale’s ETHE has over $2.35 billion in assets, followed by Blackrock’s ETHA, which has $2.1 billion. All Ethereum ETFs have over $6.6 billion, much lower than Bitcoin’s (BTC) $93 billion.

Further, the futures market is sending a warning about Ethereum prices. Data shows that linear weekly futures have moved to the backwardation phase for the first time since August. Backwardation is a period where futures prices are lower than the current levels.

On the positive side, there are signs that some investors are buying the dip. Donald Trump’s World Liberty Financial bought more ETH worth over $540,000.

More data by CryptoQuant shows that whales have continued to accumulate ETH. As shown below balances held by these big investors have bounced in the past few months. 

Ethereum price analysis

Ethereum price
ETH price chart | Source: crypto.news

The daily chart shows that Ethereum price has stabilized in the past few days. It has risen from a low of $1,762 to $1,930.

Ethereum has failed to flip the important psychological point at $3,000 into a support. It also remains below the crucial resistance level at $2,115, the lowest swing in August, and the neckline of the triple-top point at $4,000. 

Ethereum has formed a death cross pattern as the 50-day and 200-day moving averages crossed each other.  It has also formed a bearish pennant pattern, pointing to more downside ahead. This bearish view will be confirmed if it drops below this month’s low of $1,762.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

OnlyFans Shootout Star Amouranth Crypto Robbery Update: 4 Suspects Thrown in the Slammer

Few days following the attempted robbery targeting Twitch and OnlyFans celebrity Amouranth, authorities have apprehended four suspects.  These...

How to Shop for Vinyl Records Online (2025): Discogs, Ebay

You can digitally search for tags, genres, and locations at the top, and I recommend you do so...

Why It’s Thriving While Bitcoin Takes a Hit

Last week, gold smashed past the $3,000 mark for the first time in history. Some analysts believe the precious...

Memecoin Insider Creates Wolf of Wall Street-Inspired Coin Despite Potential Interpol Warrant: Report

A man linked to the launch of two collapsed memecoins has reportedly gone ahead with another project despite...

Advertisement

WAX Removes Wallet Creation Fee to Improve Accessibility

The Worldwide Asset eXchange (WAX) has removed the fee required to create a blockchain account through its Cloud...

Interpol still hasn’t listed LIBRA creator Hayden Davis as a wanted person

A report from crypto analyst Bubblemaps claimed Hayden Davis was now on an Interpol Red Notice — despite...

Must read

OnlyFans Shootout Star Amouranth Crypto Robbery Update: 4 Suspects Thrown in the Slammer

Few days following the attempted robbery targeting Twitch...

How to Shop for Vinyl Records Online (2025): Discogs, Ebay

You can digitally search for tags, genres, and...

You might also likeRELATED
Recommended to you