Ethereum price outlook improves as U.S. spot ETH ETF inflows resume

Ethereum price is eyeing a recovery as U.S. spot exchange-traded funds record $141 million in inflows, indicating renewed investor confidence after days of outflows.

Ethereum is trading at $3,857, down 0.2% in the past 24 hours. Over the last seven days, the token has fluctuated between $3,709 and $4,183, resulting in a 10% drop over the previous 30 days and a 6% weekly loss. Ethereum is still 21% below its peak of $4,946 in August.

Despite the recent pullback, Ethereum’s (ETH) market activity is picking up. The 24-hour trading volume rose 35.2% to $45.8 billion, while derivatives volume jumped 57.3% to $114.2 billion, according to CoinGlass data.

Open interest also edged up 0.6% to $43.8 billion, suggesting traders are beginning to rebuild positions after last week’s correction.

Spot ETH ETFs resume inflows

After three consecutive days of redemptions, U.S. spot Ethereum ETFs recorded $141.6 million in net inflows on Oct. 21, data from SoSoValue shows. Fidelity’s FETH led with $59.07 million, followed by BlackRock’s ETHA with $42.46 million.

Grayscale’s Mini ETH and ETHE saw smaller but notable inflows of $22.58 million and $13.14 million, respectively. No ETFs reported outflows for the day.

Analysts say this renewed inflow could help boost the ETH price in the short term, particularly if momentum continues through late October. Investors are also watching the upcoming FOMC rate decision (Oct. 28–29), where markets are pricing in a 95% probability of a 25 bps rate cut.

Risky assets like cryptocurrencies may see an increase in liquidity if a dovish signal is issued. However, a hawkish stance from the Fed might rekindle macro pressure.

Ethereum price technical analysis

The daily chart shows Ethereum trading below the Bollinger Band midline at $4,146, with resistance at $4,720 and support near $3,563. Price compression is suggested by the narrowing bands, which often come before a significant directional move.

With a relative strength index of 41.15, the market is not yet in oversold territory but is showing some bearish momentum. A short-term recovery could be confirmed by a bounce above 45–50 RSI, but another decline could be triggered by a break below 40.

The majority of moving averages, such as the 10-, 20-, 50-, and 100-day EMAs, flash sell signals, indicating that the trend is still weak in the short term. The 200-day EMA, however, sits lower at $3,570, still suggesting a long-term uptrend.

ETH may gain traction above $3,900 and retest the $4,350–$4,500 range if ETF inflows continue and the Fed confirms a rate cut. If inflows slow or macro sentiment worsens, Ethereum may fall below $3,800, opening the path toward $3,560 support or even $3,400.