Ethereum "Cooling Off" to Build Momentum? ETF Funds Quietly Flow Back, Is the Historic Rally Script About to Play Out Again?
Ethereum's price has been consolidating near $3,200 after facing resistance between $3,350 and $3,650, a zone reinforced by the 200-day EMA. Despite this, signs of recovery are emerging in spot ETF flows. Since November 21, ETH ETF assets under management have increased by 28%, from $16.8 billion to $21.5 billion, indicating a gradual return of buyer interest.
Although net flows remain negative at -$138 million, this marks a significant improvement from October’s -$500 million, suggesting weakening selling pressure. The 30-day moving average of net active buying is also rising, resembling a pattern seen in early 2025 that preceded a major price surge.
On the 4-hour chart, ETH is testing a key demand zone between $3,100 and $3,180. A hold above this level could lead to a retest of the 200-day EMA and a breakout toward $3,900. However, a breakdown may trigger a drop toward $3,000. Derivatives data shows neutral sentiment with mild funding rates and open interest, indicating cautious optimism.
The key for Ethereum’s next major move depends on sustained defense at current support levels, coupled with growing ETF inflows and active buying momentum.
marsbit12/12 00:02
