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crypto.news 2025-03-15 17:06:18

Ethereum stuck below key price as ETH ETFs see 3rd weekly outflows

Ethereum price has crawled back in the past few days but remains below a key resistance level. Ethereum ( ETH ) spiked on Saturday to exceed this month’s low of $1,762. At the time of publication, it was trading at around 1,940.57. ETH, the second-biggest cryptocurrency, remains in a deep bear market after falling by over 53% from its highest level in December. One reason for the ongoing sell-off is that investors remain in the sidelines as the crypto and stocks market retreats amid President Donald Trump’s tariffs . Third-party data shows that Wall Street investors have continued to sell their Ether ETFs. According to SoSoValue , all Ethereum ETFs shed over $143 million in assets this week, a big increase from the $119 million they lost a week earlier. They have lost assets in the last three straight weeks, bringing the cumulative total net inflows to $2.56 billion. Grayscale’s ETHE has over $2.35 billion in assets, followed by Blackrock’s ETHA, which has $2.1 billion. All Ethereum ETFs have over $6.6 billion, much lower than Bitcoin’s ( BTC ) $93 billion. Further, the futures market is sending a warning about Ethereum prices. Data shows that linear weekly futures have moved to the backwardation phase for the first time since August. Backwardation is a period where futures prices are lower than the current levels. You might also like: Ethereum price futures slip into backwardation, BTC in contango: Kraken On the positive side, there are signs that some investors are buying the dip. Donald Trump’s World Liberty Financial bought more ETH worth over $540,000. More data by CryptoQuant shows that whales have continued to accumulate ETH. As shown below balances held by these big investors have bounced in the past few months. https://twitter.com/CryptooELITES/status/1900622963076198544 Ethereum price analysis ETH price chart | Source: crypto.news The daily chart shows that Ethereum price has stabilized in the past few days. It has risen from a low of $1,762 to $1,930. Ethereum has failed to flip the important psychological point at $3,000 into a support. It also remains below the crucial resistance level at $2,115, the lowest swing in August, and the neckline of the triple-top point at $4,000. Ethereum has formed a death cross pattern as the 50-day and 200-day moving averages crossed each other. It has also formed a bearish pennant pattern, pointing to more downside ahead. This bearish view will be confirmed if it drops below this month’s low of $1,762. Read more: Here’s why altcoins like XRP, LINK, BONK, Jasmy are going up

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