Ethereum stays under pressure as BlackRock ETHA spot ETF inflows come in

Traders Union
All News
Crypto
Ethereum slides 0.9% to $1,752.2 today

Highlights

U.S. spot Ethereum ETFs saw a third straight day of net inflows on July 6, totaling $20.7 million, with BlackRock's ETHA fund capturing $23.3 million.
Sustained institutional interest in regulated Ethereum products continues to shape positive market sentiment despite near-term price pressure.
ETH/USD remains in a bearish technical structure with downside momentum; price is projected between $1,699–$1,835 and further declines favored.

Institutional appetite rises as spot ETFs draw fresh inflows

U.S. spot Ethereum ETFs recorded their third consecutive day of net inflows on July 6, drawing a combined $20.7 million according to Bitcoinworld Co. BlackRock’s ETHA fund was the largest beneficiary, attracting $23.3 million in new capital. These ETF flows demonstrate ongoing institutional demand for Ethereum exposure through regulated products and may influence broader market sentiment.

Downside momentum grows as technical indicators reinforce resistance

Turning to technicals, ETH trades below the moving averages on the hourly timeframe, with the MA-20 and MA-50 both positioned at $1,777 and the MA-200 at $2,253. The Ichimoku Kijun also stands at $1,777, representing immediate resistance. Momentum signals are negative, as the Moving Average Convergence Divergence (MACD) and Awesome Oscillator are both on sell, while the Average Directional Index (ADX) remains neutral, indicative of weak conviction. The Relative Strength Index (RSI) sits at 39.49 with a sell signal, and both the Stochastic RSI and Commodity Channel Index (CCI), alongside Bull/Bear Power, are oversold or reflecting seller dominance. Overall, oscillators align with momentum indicators in pointing to persistent downside pressure amid moderate volatility.

Range-bound outlook persists as upside probability remains low

In the short term, ETH is expected to remain within a volatility band of $1,699 to $1,835 over the next 2 to 3 trading days. The probability of a move higher is estimated at 29%. Should price break above immediate resistance at $1,777, buyers may target the upper range of the forecast band. Conversely, a decisive decline below $1,699 could accelerate selling and prolong the current downtrend.

Anton Kharitonov, expert at Traders Union, notes that Ethereum remains under pressure below its key moving averages, with momentum and oscillator signals skewed to the downside. He sees sustained ETF inflows as evidence of ongoing institutional interest, but doubts this has yet shifted the technical landscape. Resistance at $1,777 is a key level to watch, as momentum remains muted and support at $1,699 looks vulnerable. "Until Ethereum decisively reclaims $1,777, I remain cautious and see continued downside risk in the short term."

Earlier, analysts noted that Ethereum’s recovery potential remained limited by weak institutional demand and its continued dependence on Bitcoin's price action. With recent ETF inflows signaling renewed interest amid ongoing technical weakness, traders should monitor for a shift in momentum above resistance as a trigger for any sustained reversal.

Source of Data: ETH Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.