Ethereum price holds near $2,000 as ETF outflows surge to $145 million
Ethereum remains pinned near $2,000 as renewed ETF outflows and large-holder selling keep pressure on the market. Oversold conditions leave room for a rebound toward $2,150–2,200, but another break of support could quickly expose $1,900–1,800.
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According to Arkham, a large OTC participant linked to address 0x69A8 has started reducing its Ethereum exposure. A month ago, the wallet acquired 5,105 ETH for $13.74 million at an average price of $2,691. It has now been observed selling 6,532 ETH worth $13.62 million at around $2,085, with the loss estimated at roughly $3.1 million.
Meanwhile, outflows from U.S. spot Ethereum ETFs accelerated again. As per SoSoValue, the funds recorded $144.81 million in net outflows on November 11, up sharply from just $1.32 million a day earlier.
Ethereum price faces another critical support test near $2,000
Ethereum’s technical structure has changed little since the previous analysis.
ETH continues to trade near $2,050, while psychological support at $2,000 remains the key level for the next several days.
RSI (14) is in oversold territory. If $2,000 holds, the setup could support a short-term rebound toward the 200-day SMA near $2,150, followed by a possible move toward $2,200.
A break below $2,000, however, could trigger another liquidation wave. In that case, selling may accelerate quickly toward the $1,900–1,800 zone.
Institutional demand remains crucial for Ethereum recovery
The return of sizable ETF outflows shows that pressure on Ethereum is no longer limited to the derivatives market. According to CoinGlass, open interest in ETH futures is also declining, pointing to a continued reduction in market positioning.
Under these conditions, even a technical rebound could prove short-lived. A more sustainable Ethereum recovery will require not only an easing of selling pressure but also greater stability in spot ETF flows.
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