Ethereum (ETH) showed modest recovery on Saturday following a volatile week. On June 20, U.S. spot ETH ETFs recorded $11.3 million in net outflows—the highest single-day outflow for June—according to Farside Investors' data.
Key ETF Flow Dynamics
- BlackRock's ETHA ETF led the outflows with $19.7 million, marking its first negative flow this month.
- Grayscale's ETHE product attracted $6.6 million, while **Vanguard's ETHV ETF** added $1.8 million, partially offsetting losses.
- Other issuers reported no inflows or outflows.
These trends suggest institutional players may be reducing ETH exposure, though some funds like Grayscale continue to attract capital.
Technical Rebound and Market Activity
ETH briefly dipped to $2,372.85** on Friday amid a **5x surge in trading volume**—but buyers quickly stepped in at the **$2,420–$2,430 support zone, propelling a recovery. Key observations:
- 24-hour trading volume rose 18.97% above the 7-day moving average, reflecting renewed interest.
- ETH closed near $2,445**, forming an ascending trendline, but faces resistance at **$2,480–$2,500.
Technical Highlights
- Range: $186.44 (7.25%) with a steep sell-off to $2,372.85.
- Volume Spike: 993,622 units during the downturn (~5x daily average).
- Support Validation: Repeated tests at $2,420–$2,430 with declining sell-side volume confirm accumulation.
- Recovery: ETH reclaimed 38.2% of the Fibonacci retracement and established a short-term uptrend.
- Closing Action: Narrow $5.83 range in the final hour, peaking at $2,447.02.
👉 Why institutional flows matter for ETH's price action
FAQ Section
Q: What caused ETH's sharp drop on Friday?
A: Heavy ETF outflows ($11.3M net) combined with technical selling pressure triggered the decline.
Q: Is the $2,420–$2,430 support level reliable?
A: Yes—multiple low-volume retests and strong buyer response suggest solid accumulation.
Q: Could ETH break above $2,500 soon?
A: While momentum is positive, the $2,480–$2,500 zone remains a key resistance barrier.
👉 How to track real-time ETH support/resistance levels
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