$ETH is quoted at $4,179.73 with a decrease of 6.27%, despite Ethereum ETFs attracting daily inflows of $47.8 million and $703 million in the last week.
The BlackRock ETHA ETF tops the list with $5.6 billion in assets under management (AUM), demonstrating strong interest from institutions.
Liquidations reached $180 million (mostly from long positions) and trading volume has plummeted by 85% since August, indicating weak retail demand.
Key Points Influencing the Market
Bearish influences: Investors are taking profits after $ETH reached its peak of $4.6 thousand, in addition to regulatory uncertainty from the SEC and concerns about potential new Treasury rules.
Bullish drivers: Ralph Lauren has started accepting payments in ETH, Vitalik Buterin has defended the DeFi sector, and the Ethereum 2.0 project continues to progress.
Technical Analysis: Momentum is leaning downward. The MACD is losing strength, the RSI remains neutral, and the short to long position ratio is unfavorable.
Investment Strategies to Consider
Crucial supports: The psychological level of $4,000 and the secondary support at $3,350 are key points to watch.
Resistance: $ETH needs to surpass the threshold of $4,550 for the upward trend to continue.
Strategic approach: One could gradually accumulate at support levels or wait for a clear breakout above resistance before acting.
ETF flows: Monitoring capital inflows into ETH ETFs is useful for gauging institutional confidence in the future.
