Crypto
Ethereum ETF Break 10-Day Losing Streak, Price to Rally?
Ethereum ETFs finally had a green day after losing about $720 million in October. But the chart says the recovery isn’t confirmed yet.
BLOCKINSIDERLoadingEthereum ETFs finally had a green day after losing about $720 million in October. But the chart says the recovery isn’t confirmed yet.
Ethereum spot ETFs finally printed a green day. After 10 straight sessions of outflows, the funds pulled in $24.84 million on October 13, according to SoSoValue data. The price outlook looks much the same. ETH slid close to $2,410 earlier this week, then bounced back above $2,500 within hours. Whether they can push further is the open question.
The outflow run was heavy. Between October 1 and October 12 alone, Ethereum ETFs shed roughly $720 million across eight trading days.
The worst stretch came in the week ending October 9, when weekly net outflows hit $542.07 million. October 6 was the single largest day at $201.89 million, followed by $160.77 million on October 7.
Total net assets fell alongside the redemptions. On October 1, the funds held $17.71 billion. By October 13, that figure stood at $15.83 billion, a drop of close to $1.9 billion. Part of the drop came from money leaving the products and part from the lower ETH price.
The Tuesday inflow did not erase the damage. The current week still shows $60.56 million in net outflows, and cumulative net inflows since launch have slipped from $13.84 billion to $13.20 billion this month.
Still, a positive day after 10 negative ones matters for sentiment. It suggests the selling from institutional holders may be running out of steam, at least for now.
Ethereum price had a rough few days on the chart. It fell from the $2,700 area and kept printing lower highs before dropping to a low near $2,406.
Analyst Ella pointed to the shape of that move in a post on X. “Price dipped close to $2.41K, then snapped back above $2.50K not long after. That lower wick is the part I care about,” she wrote.
She stopped short of calling it a full recovery. In her view, ETH still trades under the $2.53K to $2.55K zone, and buyers have not tested that ceiling with any conviction yet. “For now it looks like a save, not a breakout,” she added.
The data backs up her caution. The long lower wick shows demand around $2,410, but demand at the lows is different from demand strong enough to push through resistance. At the time of writing, ETH trades at about $2,495, right on the line that bulls need to hold.
On the 1-hour chart, ETH looks short-term bearish to neutral. The price has moved sideways around $2,500 after the drop, with a couple of recovery attempts that stalled below resistance.
The nearest support sits at $2,475 to $2,480. Below that, $2,450 and the recent low near $2,406 are the levels to watch.
On the upside, Ethereum needs to reclaim $2,520 to $2,550 to show real signs of recovery. A stronger resistance band waits at $2,570 to $2,600.
The indicators show weak buying strength and no clear trend. RSI readings sit between 33 and 46, with the shortest-period RSI edging toward oversold territory. The MACD hovers near the zero line and offers no clear direction for now.
Three situations look likely from here. In the bullish case, ETH breaks above $2,520 to $2,550 with stronger volume. That would open the way toward $2,570 and then $2,600. A few more days of ETF inflows would add weight to that setup.
In the bearish case, a break below $2,475 exposes $2,450. If that level fails, the $2,406 low comes back into view. Ella flagged the same risk, noting that losing $2.45K would likely send the price back for another visit to that wick.
The third option is more sideways action between $2,480 and $2,520 if neither side takes control.
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