Ethereum ETFs Bleed for 2 Weeks, But This Key Level Retest Could Flip the Script
BeInCrypto
Despite two weeks of outflows from Ethereum ETFs, on-chain signals suggest a potential rebound if ETH retests the $2,798 support level.Summary
Ethereum's price is consolidating near $3,000, facing pressure evidenced by two weeks of consistent capital outflows from Ethereum ETFs, with only one day showing net inflows.
However, underlying on-chain data suggests improving momentum, as the HODler Net Position Change shows long-term holders reducing selling pressure and increasing confidence.
Analysts suggest that a controlled pullback toward the crucial $2,798 support level could trigger a bounce, potentially leading to a price recovery above $3,000 toward $3,131. Failure to hold $2,798, however, risks a slide toward $2,681.
(Source：BeInCrypto)