Ethereum’s price chart targets sub-$3K as spot ETF demand cools
Ether's price is falling below $4,000 due to cooling spot ETF demand and technical bearish signals targeting $2,870.Summary
Ether (ETH) has dropped below $4,000, trading at $3,724, amid waning institutional demand reflected in spot Ethereum ETFs experiencing three consecutive days of outflows totaling $363.8 million. Collective holdings in strategic reserves and ETFs have decreased by 124,060 ETH since mid-October, signaling reduced institutional interest, although one analyst noted one company, BitMine, remains a buyer. Technically, ETH is forming a descending triangle pattern on the eight-hour chart, which suggests a potential 22% drop to a target price of $2,870 if the breakdown level retest confirms the downtrend. Furthermore, the SuperTrend indicator flashed a bearish signal, and analysts suggest that if the crucial support zone around $3,700 is breached, ETH could fall further toward $3,500 or even $3,350.
(Source：Cointelegraph)