Ether
ETH$2,443.14
After a volatile week marked by large institutional outflows, we posted a modest recovery on Saturday. On Friday, June 20, Spot ETFS, listed in the US, recorded $11.3 million in net spills, according to data from Farside investors.
The pullback was led by BlackRock's Etha ETF and saw a $19.7 million spill. This month is the first and only negative trend. In contrast, Grayscale's Ethe product raised $6.6 million, while Vaneck's Ethv ETF added $1.8 million, partially offsetting the loss. Other publishers have not recorded inflows or outflows.
The data suggests that large institutions may be reducing ETH exposure, despite some funds like Grayscale continuing to attract capital.
ETF flow numbers emerged with technical rebounds of prices. Ether fell shortly to $2,372.85 on a massive sale marked with volume spikes almost five times the daily average on Friday, but buyers recovered quickly as buyers intervened in the $2,420-$2,430 range, according to Coindesk Research's technical analysis model. This region then formed a solid support zone validated by multiple low capacity tests suggesting accumulation.
The 24-hour trading volume exceeds the seven-day moving average by 18.97%, reflecting rising trading profits during a price recovery. The ETH closed at nearly $2,445, forming a trend line with higher lows, with ascending trends, but the key resistance remains at the level of $2,480-$2,500.
Technical Analysis Highlights
- Eth-USD recorded a 24-hour trading range of $186.44 (7.25%), marking the session low, and a sudden sale of $2,372.85.
- The drop occurred at 17:00 hours and reached 993,622 units with rapid spikes in trading volume.
- The main support zone formed between $2,420 and $2,430 is bolstered by multiple successful retests with gradually lower sell-side volumes.
- ETH has recovered 38.2% of Fibonacci's retracement from the sale, creating an ascending trendline supported by higher lows.
- Between 8:00 and 9:00 hours, volume accelerated again, raising prices towards strong momentum and $2,445 levels.
- In its final hours, ETH was traded within a narrow $5.83 band from the end of $2,440.14 to $2,443.45.
- The later session meeting peaked at $2,447.02 (11:38) with a candle volume burst of 4,532 units.
- Prices then fell slightly, but found immediate support at $2,439.38 and continued to respect the rising short-term trendline.
Disclaimer: Part of this article is generated with the support of AI tools and reviewed by the editorial team to ensure accuracy and compliance Our standards. For more information, please refer Coindesk's complete AI policy.
