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

This Key Resistance Could Prevent BTC’s Surge to $90K

Bitcoin has recently rebounded from the critical $78K support level and is now testing a significant resistance at...

Argentina Wants LIBRA Co-Creator and MELANIA Insider Hayden Davis Arrested: Report

Authorities in Argentina are reportedly looking to initiate the arrest of Hayden Davis, who was allegedly involved in...

Cryptocurrencies to watch this week: Binance Coin, Cronos, ZetaChain

Cryptocurrency prices rose modestly during the...

Advertisement

The 11 Best Amazon Echo and Alexa Speakers (2025): We’ve Tested Them All

Other Alexa (or Alexa Compatible) SpeakersAmazon Echo Pop for $40: The Echo Pop (7/10, WIRED Recommends) is a...

Cardano ($ADA) Founder Is Very Angry With Google! Over Misinformation

Charles Hoskinson explained how Google is spreading misinformation about him.SummaryCharles Hoskinson slammed Google for spreading wrong information about...

Must read

This Key Resistance Could Prevent BTC’s Surge to $90K

Bitcoin has recently rebounded from the critical $78K...

Argentina Wants LIBRA Co-Creator and MELANIA Insider Hayden Davis Arrested: Report

Authorities in Argentina are reportedly looking to initiate...

You might also likeRELATED
Recommended to you