TLDR Ethereum is trading above $3,000 at $3,063.96, holding key psychological support after recent consolidation. U.S.-listed Ethereum ETFs recorded $555 millionTLDR Ethereum is trading above $3,000 at $3,063.96, holding key psychological support after recent consolidation. U.S.-listed Ethereum ETFs recorded $555 million

Ethereum (ETH) Price: Can the Rally Continue After $555 Million ETF Exodus

TLDR

  • Ethereum is trading above $3,000 at $3,063.96, holding key psychological support after recent consolidation.
  • U.S.-listed Ethereum ETFs recorded $555 million in outflows last week, leading total crypto ETF withdrawals of $952 million.
  • Bitmine now holds 4,066,062 ETH (3.37% of total supply) after adding 98,852 ETH in the past week, with total crypto holdings valued at $13.2 billion.
  • Strong resistance exists between $3,161 and $3,450, with analysts watching for potential breakout or rejection at these levels.
  • Short-term technical indicators show bullish momentum, but price remains below the 50-day simple moving average at $3,161.

Ethereum is trading at $3,063.96, holding above the $3,000 psychological support level after a period of consolidation. The price has recovered from recent lows near $2,900, showing short-term strength in the market.

Ethereum (ETH) PriceEthereum (ETH) Price

Several technical indicators are flashing buy signals. The 10-day exponential moving average sits at $3,002.5, while the 20-day exponential moving average is at $3,030.7. These levels are providing near-term support for the current price action.

However, Ethereum remains below the 50-day simple moving average of $3,161. This position indicates overhead selling pressure that could limit upward movement in the near term.

The cryptocurrency gained momentum as Bitcoin stabilized above $100,000. This stability across major cryptocurrencies reduced sell pressure in the broader crypto market.

ETF Market Sees Heavy Outflows

U.S.-listed Ethereum ETFs recorded $555 million in outflows last week. These outflows led total crypto ETF withdrawals of $952 million during the same period.

The withdrawals come during a time of regulatory uncertainty in the United States. The stalled Clarity Act and rising risk aversion across global markets have contributed to the negative ETF flows.

Despite the ETF weakness, institutional interest in Ethereum remains active. Bitmine announced it currently holds 4,066,062 ETH, representing 3.37% of the total Ethereum supply.

The company added 98,852 ETH to its holdings in the past week. Bitmine’s total crypto holdings now include its Ethereum position, 193 Bitcoin, a $32 million stake in Eightco Holdings, and $1.0 billion in cash.

These combined holdings total $13.2 billion in value. The accumulation by large institutional holders continues despite the negative sentiment reflected in ETF flows.

Key Price Levels Under Watch

Analysts have identified strong resistance between the 50-day simple moving average at $3,161 and $3,450. A rejection from this zone could push Ethereum back toward the $2,700 to $2,623 support range.

If the price breaks below that support area, it may test the $2,250 level. On the upside, a clean breakout above $3,450 would cancel the bearish setup.

Such a breakout could open a path toward $3,918. Traders are also watching the $3,140 level as a key structural point that may determine the next directional move.

The $2,910 to $2,920 area has been defended by buyers and is viewed as a foundation for potential upside. Some analysts are pointing to targets near $3,060 and $3,160 as early objectives if momentum continues.

Chart patterns suggest Ethereum may be trading within a broadening channel structure. This pattern allows for wider price swings as volatility expands.

If supported by rising trading volume, price action could move toward the channel’s upper boundary. Long-term projections tied to this pattern point to potential movement toward higher levels, though such outcomes would require sustained breakout conditions.

Ethereum added 98,852 ETH to institutional holdings last week, bringing Bitmine’s total position to 4,066,062 ETH worth approximately $12.5 billion at current prices.

The post Ethereum (ETH) Price: Can the Rally Continue After $555 Million ETF Exodus appeared first on CoinCentral.

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