- ETH was rejected at the key resistance at $1,755, which is the 20-day EMA.
- BlackRock’s ETHA saw a massive $6.4 million in inflows but ETH crashed 2.2%.
- Santiment stated that ETH is a good buy for 2025, maintaining a bullish outlook.
Ethereum (ETH), currently trades at $1,559.83, down 2.2% in the last 24 hours, struggling to regain bullish momentum and break out above the $2,000 price level.
Despite attempts to push higher — briefly touching a daily high of $1,621.53 — ETH was rejected near the critical resistance level of the 20-day EMA, currently at $1,755.
BlackRock’s $6.4M ETH Buy
Interestingly, Ethereum’s price dip comes in contrast with positive institutional developments. BlackRock’s iShares Ethereum Trust (ETHA) saw $6.43 million in inflows on Thursday.
However, this optimism was overshadowed by broader market behavior — newly approved spot ETH ETFs recorded total outflows of $38.79 million, with Fidelity’s Ethereum Fund (FETH) alone accounting for a massive $36 million exit.
This divergence between selective accumulation and broader investor skepticism hints at ongoing uncertainty surrounding Ethereum’s short- to mid-term trajectory.
While the chart below confirms a slight surge in accumulation, the cryptocurrency’s performance has been rather dull this cycle.
Related: Vitalik Buterin Warns of DAO Vulnerabilities, Questions ‘Renting’ Votes
ETH Price Analysis
A deeper look at the chart reveals that ETH is trading just above the lower Bollinger Band support at $1,436, suggesting the asset is in oversold territory. The middle band, currently near $1,801, aligns closely with the 20-day EMA, making it a crucial resistance zone.
The Relative Strength Index (RSI) is at 36.61 — just above the oversold threshold of 30 — indicating weak bullish strength but also a potential base forming. It is possible that ETH is bottoming out in the near term, especially if it continues to consolidate above $1,500.
Notably, losing the lower Bollinger Band could result in further downside and expose ETH’s $1,350 support to the bears.
Common Criticisms Holding Ethereum Back?
As highlighted by Santiment, Ethereum meets rising criticism from “ETH bears.” Common reasons, as highlighted by the blockchain analysis platform, include:
- Layer-2 dilution of Ethereum’s own value.
- Investor confusion due to complex upgrades like the Merge and Shanghai.
- Slow updates and high gas fees that frustrate users.
- Regulatory uncertainties relative to Bitcoin.
- Attractive alternatives like Solana, Cardano, and Avalanche pulling attention and capital.
- Lack of a strong investment identity compared to Bitcoin (as digital gold) or high-yield altcoins.
- Post-upgrade selling pressure from staked ETH withdrawals.
Related: Bitcoin and Ethereum ETFs Display Contrasting Trends in Capital Flows
Yet despite these valid concerns, Santiment notes that Ethereum remains the 7th most actively developed crypto project over the past month. The digital asset could soon be gearing up for a rally, potentially on the path to new all-time highs in the near future.
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