ETF Performance and Institutional Demand
Ethereum is testing important resistance levels just as its U.S. spot ETFs report a net outflow of approximately $41.5 million, despite BlackRock contributing $28.4 million to its ETHA fund. Higher-fee ETFs, such as Fidelity’s FETH, VanEck’s ETHV, and Grayscale’s ETHE and EZET, experienced significant outflows, while Bitwise and 21Shares maintained flows near zero. The flows reflect broad selling across several issuers. Products like FETH, ETHV, ETHE, and EZET registered substantial withdrawals. Higher-fee ETFs faced more pronounced outflows, while Bitwise and 21Shares maintained near-zero flows. The mix of inflows and outflows indicates that institutional demand remains present but uneven, suggesting more of a rotation among products than a broad shift in sentiment toward Ethereum.
Technical Outlook and Price Targets
From a technical perspective, analysts are focusing on the $4,800 area as the first critical resistance. According to Ali Martinez, breaking this level could open the way to $6,800 and $8,800, based on historical price structure since 2021 and horizontal resistance bands. Currently, Ethereum trades near $3,000, below the mid-range band at $3,600, within a wide range spanning support at $1,200 up to resistance at $4,800. The next reaction in these zones will determine whether the recent bullish move consolidates or selling pressure returns.
Ethereum's Price Action and Momentum Shift
Ethereum rebounded from a high-volume support near $2,480, recovering part of the mid-range band that previously acted as both support and resistance. The bounce temporarily broke the downtrend line that guided the last selling phase, generating a slight shift in momentum toward the upside.
However, the overall structure still reflects a series of lower highs formed since September. Accumulated supply areas between $3,400 and $3,900 represent the next obstacle that the price must overcome to confirm a sustained reversal. The market is closely watching whether Ethereum can maintain this recovery and push toward the $4,800 horizontal resistance.