Key Insights:
- Ethereum shrugs off $446.71M ETF outflows, staying firm above $4,300 as traders monitor upcoming resistance.
- Analysts stress $4,500 as a crucial breakout level, while failure could bring ETH back to $4,000 or $3,800.
- ETF assets remain at $27.64B, showing continued institutional exposure despite historic selling pressure in early September.
Ethereum faced record pressure from exchange-traded fund activity during the first week of September. As of the press time, data showed a daily net outflow of $446.71 million, the second-largest single-day withdrawal on record. This marked part of what market watchers described as the largest weekly outflow since ETH ETFs began trading.
Despite the heavy withdrawals, total net assets across Ethereum-linked ETFs stood at $27.64 billion. The market absorbed the selling, with the token itself showing resilience above $4,300, even as ETF investors continued to reduce exposure.
Price Holds Firm Above $4,300
At the time of reporting, Ethereum traded at $4,375.68, showing a 2% gain over 24 hours, though still down 1% on the week. The data indicates that while institutional flows remain negative, spot market activity is helping the asset maintain stability.
Axel Bitblaze commented on the unusual divergence, saying, “and ETH? just chilling above $4.3k like nothing happened.” He also added that Ethereum looked “oversold af” and suggested that a shift back to inflows could see the token move toward $5,000.
Technical Levels in Focus
Chart data shows ETH trading in a defined range for the past two weeks. The $4,500 level has emerged as the key resistance for bulls, while the $4,120–$4,060 range continues to provide support. A confirmed break above $4,500 could open the way to $4,880–$4,900, aligning with previous swing highs.
Trader Ted observed,
Source: Ted/XIn addition, He cautioned that rejection could push the price lower, with downside targets around $4,000 and $3,800 if the current support fails.
Market Outlook
ETF flow data indicates selling pressure remains high, yet Ethereum’s price has shown stability. The divergence between heavy outflows and firm price action suggests strong demand in the spot market. If ETF sentiment shifts back into positive territory, traders will be watching whether Ethereum can reclaim $4,500 and set up for another push higher.
For now, Ethereum continues to trade steadily above $4,300, a level that has become the focus point for both short-term traders and long-term investors.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/eth-shrugs-off-record-etf-outflows/
