Ethereum (ETH) Reclaims $3,000 Amid Rising ETF Outflows đ
Key Takeaways:
- ETH back above $3,000 psychological level. đ
- Last week saw $555 million in ETH ETF outflows. đ¸
- Significant selling pressure noted near $3,161â$3,450 resistance. â ď¸
Ethereum's price has recently regained the crucial $3,000 level, indicating some short-term bullish momentum. However, this recovery is set against a backdrop of increasing ETF outflows and slowing network activity, which are tempering broader market confidence. Mixed signals persist across the crypto space.
In the past week alone, Ethereum exchange-traded funds (ETFs) experienced substantial outflows, totaling $555 million. This significant withdrawal highlights ongoing selling pressure, particularly as ETH approaches a strong resistance zone between $3,161 and $3,450.
Investors are closely monitoring these levels for potential price action and future trends.
