Ethereum dips below $2K, Weak ETH ETF interest
Ethereum is at a critical support level as demand for spot exchange-traded funds weakens. Ethereum, the second-largest cryptocurrency, fell below 2,000 on Sunday night.
This price is roughly 50% lower than its peak in December and 48% lower than it was during the same time last year. Wall Street investors have continually dumped the super altcoin amid weak risk appetite
SoSoValue reports that all Ethereum ETFs lost $120 million in assets last week, following a $335 million loss the week before, for a total loss of $455 million. Compared to the $37 billion inflow into Bitcoin (BTC), the net inflow into these Ethereum ETFs is $2.7 billion.
Market action showed ETH is still struggling to rise above $2,000 and is under pressure.
Its technical indicators continue to show a downward trend.
The BBTrend indicator is negative, indicating that the bullish momentum has not yet reached its full potential. The White House crypto summit may have contributed to the slight increase in Ethereum whales, as investors wait for regulatory changes or for ETH to be added to the US Strategic Crypto Reserve.
Key resistance levels must be broken and buying pressure must be maintained for ETH to turn bullish.
Recent price action showed the altcoin is above the critical $2K support level. The psychological level at $1,500 will be the next point to watch. Such will affirm further downward momentum.
Ethereum might surpass the resistance level at $2,500 and even reach $2,850 if it reverses its current trend. Ethereum may be able to recover $3,000, a level it hasn’t touched since February 1, 2025.
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