Ethereum risks another selloff below key support
ETH is showing slightly more resilience than Bitcoin and has yet to set a new yearly low. However, accelerating ETF outflows and the loss of its position as the second-largest cryptocurrency by market capitalization to Tether continue to weigh on investor sentiment.
The main negative factor for Ethereum remains spot ETFs. According to SoSoValue, net outflows accelerated to $81.87 million on June 25, reinforcing the view that institutional demand for ETH remains weak.
Another blow to sentiment came as Tether temporarily surpassed Ethereum in market capitalization, with a valuation of $186.06 billion compared with $185.66 billion for ETH.
There is, however, one positive development. According to Arkham, SharpLink Gaming resumed accumulating ETH after an eight-month pause, suggesting that some corporate investors continue to view Ethereum as a strategic long-term asset.
ETH risks another wave of selling below $1,500
As mentioned in our previous analysis, $1,650 was the key support level. ETH has now decisively broken below it and moved toward the psychological $1,500 level.
So far, liquidation volumes remain relatively modest, with approximately $299 million in ETH positions liquidated over the past 24 hours. However, a significant amount of short- and medium-term trader liquidity remains concentrated below $1,500.
If this level is broken, the decline is likely to accelerate toward the $1,400–1,388 support zone.
If $1,500 holds, ETH could rebound toward the $1,600–1,650 range. However, this will be a technical rebound rather than a reversal of the downtrend.
Corporate buying is not enough for a reversal
SharpLink's purchases are a positive signal, but they are not sufficient to trigger a meaningful recovery in Ethereum.
A sustainable reversal will require more than isolated corporate buying. Ethereum needs consistent capital inflows through spot ETFs and a broader improvement in liquidity across the cryptocurrency market.
Until that happens, any rebounds in ETH are likely to be viewed as technical recoveries from oversold conditions rather than the beginning of a new uptrend.
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