The price of Ethereum has made a slight recovery in recent days but仍然握住关键抵抗水平之下。
On Saturday, Ethereum (ETH) experienced a spike, surpassing this month’s low of $1,762. As of the latest update, it was trading near $1,940.57.
As the second-largest cryptocurrency, ETH continues to be entrenched in a significant bear market, having fallen over 53% from its peak in December.
One contributing factor to the sustained sell-off is that investors are staying on the sidelines as the cryptocurrency and stock markets decline in response to tariffs imposed by President Donald Trump.
Data from independent sources indicates that Wall Street investors have been offloading their Ether ETFs, with all Ethereum ETFs losing over $143 million in assets this week, a notable increase from the $119 million loss recorded the previous week.
These ETFs have faced asset losses for the past three consecutive weeks, bringing the total net outflows to $2.56 billion. Grayscale’s ETHE holds more than $2.35 billion in assets, followed by Blackrock’s ETHA with $2.1 billion. In total, all Ethereum ETFs account for over $6.6 billion, which is significantly lower than Bitcoin’s (BTC) $93 billion.
Moreover, the futures market is issuing warnings regarding Ethereum prices. Current data reveals that linear weekly futures have entered the backwardation phase for the first time since August, indicating that futures prices are lower than current market levels.
On a brighter note, there are indications that some investors are seizing the opportunity to buy during this dip. World Liberty Financial, associated with Donald Trump, has purchased more than $540,000 worth of ETH.
Additional data from CryptoQuant shows that large investors, or whales, have continued to accumulate ETH. Recently, these major holders have increased their balances over the past few months.
Ethereum price analysis
The daily chart illustrates that Ethereum’s price has shown stability in recent days, climbing from a low of $1,762 to $1,930.
Ethereum has struggled to convert the significant psychological level at $3,000 into support. It remains under the critical resistance level of $2,115, which marks the low point in August and the neckline of the triple-top pattern at $4,000.
Currently, Ethereum has formed a death cross pattern as the 50-day and 200-day moving averages have crossed. Additionally, it has established a bearish pennant pattern, suggesting potential further declines. This bearish outlook will be corroborated if the price falls below this month’s low of $1,762.