Ethereum Reclaims $2,300 as ETF Outflows Continue

The pressure is showing up most clearly in ETF flows. US-listed spot Ethereum exchange-traded funds logged nearly $85 million in net outflows on Tuesday, according to SoSoValue, extending a seven-day withdrawal streak. The redemptions follow a brutal October, when the products shed a record $1.61 billion, underscoring how quickly institutional appetite has cooled after a strong earlier run.

For investors, the combination matters because ETF demand has become one of the clearest gauges of whether ether can sustain rallies without leaning solely on speculative trading. When regulated funds see persistent outflows, it tends to leave spot prices more vulnerable and makes rebounds toward average cost basis levels, such as $2,309, more likely to attract sellers.

Technically, ETH remains under pressure despite the bounce. The token is still trading below its 20-day and 100-day exponential moving averages, clustered near $2,352 and $2,345, while the 50-day EMA sits higher at $2,411. The 14-day relative strength index around 39 suggests momentum remains weak, even though Ethereum has held immediate support near $2,250.

A decisive reclaim of $2,309 would improve the short-term picture and could open the way toward the $2,345-$2,355 resistance band. Failure to hold $2,250, however, would expose the next support levels at $2,204 and $2,107, keeping the market vulnerable if ETF redemptions continue.