Ethereum’s rally was just 1.94% below its November 2021 history high of $4,878 before sellers forced a pullback. Currently, Eth USD is trading nearly $4,450 and has retreated after a +29% rise in the last 30 days.
The inability to break through resistance underscores the technical overhang that continues to hold back the upward momentum despite the institutional flow continuing to be the dominant driver of short-term performance.
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The ETF inflow was crushed eight days later after a $3.7 billion win streak – is there an ETH USD leak here?
The rejection coincided with the first net leak from a US spot ether ETF in nine trading sessions.
Farside data shows $59.3 million left the product on Friday, ending an eight-day streak that raised $3.7 billion in BlackRock’s Eta, Fidelity’s Festival and Grayscale’s Ethereum Mini Trust.
(sauce)
Since its launch in July 2024, Spot Ether ETF has raised $12.688 billion in cumulative flows, but the end of the inflow streak introduces new data points for traders considering rally durability. https://cointelegraph.com/news/ether-etf-ustflow-day-inflow-streak-billions-mions-price predictions
ETF flow has become one of the most reliable proxies in ETH for facility positioning. Analysts note that sustained influx is important to tackle the $4,878 ATH ceiling.
Standard Chartered raised its year-end ETH target to $7,500 this week. This is subject to continued strong net ETF demand.
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USD sentiment in reversal of Sharplink loss compounds
https://www.youtube.com/watch?v=uw7qaka7nls
Flow inversion is the shadow of the weak revenue prints of Sharplink Gaming, the second largest Ethereum digital asset financing company.
The company reported a net loss of $133.4 million in the second quarter, causing the stock market to panic, causing a -15% decline in stock.
The approximately $87.8 million hit was marked at a quarterly low price of $2,300 from the non-cash damage fees associated with liquid-stained ETH.
Sharplink’s 728,804 ETH Holdings is now worth more than $3.3 billion, but accounting amplified headline losses and more broadly suppressed sentiment around the Ethereum Treasury.
The confluence of failed breakouts, ETF spills, and sudden paper losses of major financial owners reinforces the importance of institutional demand and accounting in setting up the narrative of near ETH USD, rather than retail markets.
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Ethereum ETFS vs. Treasury accumulation: What drives ETH USD prices?
The ETF reversal highlights the vulnerability of momentum when vehicles within the facility suspend purchases.
But under the surface, the corporate Ethereum Treasury accumulation remains a strong counterweight.
The $103 million loss in Sharplink headline obscured the 728,804 ETH position, now worth $3.3 billion, has been steadily worsened by stakeholder rewards.
With its current yield of 3.4%, Sharplink has already booked more than 1,300 ETH this year with rewards, an organic influx that mitigates the valuation shock.
Other treasury companies have quietly expanded their exposure with BTCS Inc. and Defi Development Corp. adding reserves in the second quarter.
The block estimates that public companies holding ETH have a cumulative market capitalization of more than $10 billion, marking Ethereum’s arrival as a financial asset class in itself.
This is structurally important. ETF demand is flow-driven and responsive to emotions, but Treasury allocations are sticky, repeated, and often tied to behavioral models on Defi infrastructure, games, or tokenized yield platforms.
While ETF outflows highlight short-term sentiments, parallel growth in the Treasury balance sheet shows a strategic layer of demand that is not sensitive to everyday price fluctuations
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ETH USD price analysis: Where does Ethereum prices go from here?
As ETHD is reeling out of rejection of the ATH resistance, Ethereum is currently trading at a market price of $4,397 (representing a 24-hour change of -0.95%).
After losing more scaffolding around $4,490, it appears ETH USD price action will likely test historic support low at a price level of $4,115.
(ethusd)
To bolster this case, the steadily rising 20DMA appears to be intended to converge with this low level of support in the coming days. In particular, 20DMA support has not been tested by ETH USD for 10 days. In other words, there was no moving average support for ETF influx over the past 8 days.
Successful integration at this level appears likely to trigger a second retest of the ATH resistor this week. After all, prices are rarely rejected entirely from the initial resistance test.
Such a move is enhanced by confidence from a decrease in RSI. The RSI has been overheating with strong bear signals for several days.
ETH USD could be caught with established support of about $3,750 if a failure occurs.
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