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6d ago

Ethereum Slides to $4,450 After Failed $4,800 Breakout as ETF Inflows Extend to Day Seven

Institutional buying through U.S. spot funds is absorbing limited exchange supply, reinforcing a constructive medium‑term setup.

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Overview

  • Ether fell more than 6% from above $4,750 to roughly $4,450 after a failed push through the $4,800 resistance zone, according to Coinbase data reported by Forbes.
  • U.S. spot Ethereum ETFs took in about $420–$421 million on Oct. 7, marking a seventh straight day of net inflows, per SoSoValue.
  • The pullback triggered about $635 million in leveraged position closures across crypto in the past day, with roughly $489 million in longs wiped out and $142 million in ETH long liquidations, CoinGlass data show.
  • On‑chain metrics indicate exchange reserves near multi‑year lows of roughly 16.1–17.4 million ETH, pointing to reduced sell‑side supply.
  • Analysts highlight mixed signals, with key support clustered around $4,400–$4,420 and resistance near $4,700–$4,800, while some longer‑term views remain bullish and liquidity‑driven revaluation theses are still speculative.