Ethereum (ETH) has moved back above the $3,000 psychological level, but rising ETF outflows and slowing network activity are limiting bullish confidence.
ETH was trading around $3,064, supported by short-term momentum. The 10-day and 20-day exponential moving averages remain below price, signaling near-term strength. However, ETH is still trading under the 50-day SMA near $3,161, where selling pressure remains strong.
ETF outflows weigh on sentiment
Despite the price recovery, U.S.-listed Ethereum ETFs recorded $555 million in outflows last week, the largest among digital assets. Total crypto ETF outflows reached $952 million, reflecting growing risk aversion and continued U.S. regulatory uncertainty.
Institutional demand remains active
Longer-term institutional interest appears resilient. Bitmine disclosed that it now holds more than 4 million ETH, after adding nearly 99,000 ETH last week. The company said its total crypto and cash holdings now exceed $13 billion, with ETH representing about 3.4% of total supply.
Key levels to watch
Analysts point to strong resistance between $3,161 and $3,450. A rejection from this zone could push ETH back toward $2,700–$2,623 support. A deeper breakdown may expose $2,250.
On the upside, a clean breakout above $3,450 could shift momentum and open the path toward $3,918.
Bottom line
Ethereum has reclaimed $3,000, but ETF outflows continue to cloud the outlook. Until ETH clears key resistance, analysts expect cautious and range-bound trading.
