ETH losing $2.3K support?
After 9 days of strong ETF inflows, BTC and ETH ETFs finally turned into outflows.
BTC ETFs saw around $263M outflow and ETH ETFs saw around $50M outflow.
This is not a good short term sign for bulls.
ETH already lost the $2,300 support area and now market is watching $2,200 very closely.
If ETH holds $2,200 and ETF inflows come back again, then price can try to move toward $2,500 - $2,600.
But if ETH breaks below $2,200 with volume, then next demand zone can be $2,100 - $2,150.
For now ETH needs strong buyer support, otherwise more pain can come before recovery.
ETHUSDT
Perp
2,340.97
+2.61%