Recent ETF outflows and reduced on-chain activity are putting pressure on Ethereum's price. ETH traded between $1,810 and $1,960 over the past week.
ETF Outflows Highlight Institutional Caution
U.S. spot Ethereum ETFs recorded $265.4 million in outflows last week. These outflows have continued for 17 consecutive days, indicating growing caution among institutional investors.
Reduced On-Chain Activity in Ethereum
Ethereum's DEX volume fell by 30% over the past seven days, and the total value locked (TVL) decreased by 9.3% this month. Key protocols like Lido and Maker showed significant TVL declines.
Technical Indicators Signal Downside Risk
Technical indicators on the ETH chart suggest a potential price drop to $1,530 if the $1,880 support level is breached. The RSI at 48 indicates prevailing bearish momentum.
Current market conditions indicate a need for increased caution. Future developments will hinge on changes in capital flows and on-chain Ethereum activity.
