Overview
- ETH trades around $3,840–$3,865 and remains rangebound, with key levels framed near $3,802–$4,154 and a close above $4,150 needed to confirm upside momentum.
- ETF flow data show pressure on sentiment, with BlackRock’s ETHA posting $118 million in outflows and Bitwise’s ETHW recording $31 million in exits.
- On-chain trackers report continued institutional accumulation as Lookonchain says Bitmine purchased 44,036 ETH (about $166 million), lifting disclosed holdings to roughly 3.16 million ETH.
- Charts indicate weakening momentum after breaks below the 50- and 100-day moving averages, keeping bulls focused on defending the $3,800 area to avoid a deeper pullback.
- Sentiment gauges point to stress as NUPL dips toward capitulation and Santiment’s weighted sentiment falls to its lowest since February, even as analysts flag potential medium-term targets near $4,200–$4,500 and some, like Michaël van de Poppe, cite scope for a push toward new highs.