Ethereum ETFs end outflow streak, but bulls face key resistance
Ethereum is showing early signs of resilience as ETF outflows have come to an end and the network's fundamentals remain strong. However, institutional demand is still too weak to signal a meaningful market reversal.
A positive development for Ethereum was the end of the outflow streak from U.S. spot ETFs. After nine consecutive trading days of net outflows, investors finally returned as buyers, although net inflows totaled just $14.8 million. This is not enough to change the broader picture of weak institutional demand. Compared with the heavy selling seen in previous weeks, the inflow remains modest and suggests stabilization rather than the beginning of a new accumulation phase.
Meanwhile, Ethereum's on-chain fundamentals remain solid. The network continues to host the largest DeFi ecosystem, with approximately $36.7 billion in total value locked (TVL). More than half of the world's stablecoin supply remains on Ethereum, while the total value of staked ETH exceeds $66 billion.

ETH still faces resistance near $1,650
On the daily chart, Ethereum continues to follow the scenario outlined in our previous analysis. The price tested the $1,600–1,650 resistance zone but failed to break above it.A short-term descending trendline remains the primary technical barrier, and buying volume is still insufficient to overcome this resistance.
As a result, a retest of the psychological $1,500 level remains likely in the coming days. If ETH breaks below this support, the next downside target is the $1,400–1,388 zone.
On the other hand, if buyers manage to break above the descending trendline, the probability of a move toward the 50-day simple moving average (SMA) near $1,840 will increase significantly.
Institutional inflows remain Ethereum's missing catalyst
Despite the first signs of improvement in ETF flows, it is still too early to conclude that institutional demand has returned. A single day of modest inflows is not enough to offset the prolonged period of outflows seen over recent weeks.
Until ETF inflows become consistent and broader investor interest in the cryptocurrency market recovers, Ethereum is likely to continue trading in line with the overall market trend.
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