ETF Outflows And Trendline Rejection Keep Sellers In Control

• Ethereum remains capped below a descending trendline and the 50–200 EMA cluster, keeping the broader structure bearish.
• ETF flows stay negative with a $19.4M net outflow, even as selective buying from BlackRock highlights uneven institutional demand.
• Failure to hold $3,000 risks a deeper slide toward $2,880, while bulls need a reclaim of $3,296–$3,490 to shift momentum.

At the time of writing, Ethereum trades near $3,130 after another failed attempt to reclaim its descending trendline and short-term EMA resistance. The market remains under pressure as ETF outflows persist and buyers struggle to defend the $3,000 to $3,050 support zone. The tension is clear. Spot demand is mixed, while technical structure continues to favor sellers.

Trendline Rejection Keeps Structure Bearish

On the daily chart, Ethereum remains locked beneath a well-defined descending trendline. Every recovery attempt over the past two weeks has stalled below this line, reinforcing it as active resistance rather than a fading signal.

Price also continues to trade below the 50 and 200 day EMAs, currently clustered near the $3,296 to $3,447 region. That zone has repeatedly capped upside momentum. The 100-day EMA sits higher near $3,491, reinforcing the idea that the broader trend has shifted into a corrective phase rather than a pause.

Ethereum failed to hold above the 0.382 level near $3,245 and remains pinned closer to the 0.236 retracement around $3,005. When price cannot reclaim mid-range Fibonacci levels, rallies tend to fade quickly. The structure remains defined by lower highs and compressed rebounds, which keeps pressure on buyers.

Intraday Charts Show Fragile Stabilization

Shorter timeframes reflect the same imbalance. On the one-hour chart, Ethereum is attempting to stabilize above $3,100 after a sharp drop earlier this week. However, both the Supertrend and Parabolic SAR remain bearish, with overhead resistance sitting near $3,150 to $3,180.

Each bounce has been shallow and corrective rather than impulsive. Price has not printed a clean higher high within the intraday structure, suggesting short covering rather than fresh long positioning.

As long as Ethereum remains below the intraday trend resistance, upside attempts are vulnerable to renewed selling. A failure to hold $3,080 would expose the $3,000 psychological level once again.

Spot Flows Remain A Headwind

Spot market data continues to lean negative. Recent exchange flow data shows persistent net outflows, with selling pressure outweighing fresh accumulation across multiple sessions. 

While the latest daily print showed a modest inflow of $13.8 million, the broader trend remains distribution rather than sustained demand.

ETF Flows Highlight Diverging Positioning

Total Ethereum ETF flows recorded a net outflow of roughly $19.4 million in the latest session. The outflow confirms that some institutional exposure continues to unwind rather than rotate higher.

At the same time, BlackRock added approximately $23.2 million worth of Ethereum, highlighting a divergence within institutional flows. Select buyers are stepping in, but the broader ETF complex is not yet aligned.

This type of mixed behavior often appears during consolidation phases rather than trend reversals. Strong trends typically require broad participation across funds, not isolated buying.

Will Ethereum Go Up?

Ethereum remains in a corrective phase as trendline resistance and ETF outflows limit upside momentum.

• Bullish case: A strong daily close above $3,296 followed by a reclaim of $3,490 would invalidate the descending structure and open the door toward $3,600.
• Bearish case: A daily close below $3,000 would confirm a breakdown and shift focus toward $2,880 and potentially $2,750.

Until price reclaims key EMAs and spot flows improve, sellers retain control. The next decisive move will come from whether buyers can defend $3,000 or whether that level gives way under sustained pressure.

Related: Ethereum (ETH) Price Prediction: ETH Consolidates Gains With Supply Tightening Signals