ETH Experiences Largest Spot ETF Outflows This Month Amid Price Recovery
Ether (ETH) displayed a modest recovery after a week of significant institutional outflows. On June 20, U.S. spot ETH ETFs reported $11.3 million in net outflows, the largest single-day decline for June. BlackRock’s ETHA ETF experienced a $19.7 million outflow, its first negative flow this month, while Grayscale’s ETHE attracted $6.6 million and VanEck’s ETHV added $1.8 million.
Data indicates institutions may be reducing ETH exposure despite some funds like Grayscale gaining capital. Following a heavy sell-off where ETH dipped to $2,372.85, it quickly rebounded, finding support between $2,420 and $2,430. The 24-hour trading volume increased by 18.97% above the 7-day average, closing near $2,445 with an ascending trendline of higher lows. Key resistance is identified at $2,480–$2,500.
Technical Analysis Highlights
- 24-hour trading range: $186.44 (7.25%), with a low of $2,372.85.
- Sell-off occurred during the 17:00 hour with trading volume spiking to 993,622 units.
- Support zone established between $2,420 and $2,430 with successful retests.
- ETH reclaimed 38.2% of the Fibonacci retracement from the sell-off.
- Volume accelerated during the 08:00–09:00 hour, indicating bullish momentum.
- Final hour trading range was narrow, from $2,440.14 to $2,443.45.
- Late-session rally peaked at $2,447.02 with an intra-candle volume burst of 4,532 units.
- Price found support at $2,439.38, respecting the ascending short-term trendline.