Friday saw the highest outflows from Ethereum's spot exchange-traded funds this month.
Ether (ETH)
Ethereum Price (ETH) $2,443.14
It saw a slight rebound on Saturday after a volatile week characterized by massive outflows from institutions. On Friday, June 20, U.S.-listed spot Ethereum exchange-traded funds (ETFs) recorded net outflows of $11.3 million, the largest daily drop in June, according to data from Farside Investors.
The BlackRock ETHA ETF led this decline, with an outflow of $19.7 million, marking its first and only negative flow this month. In contrast, Grayscale's ETHE product attracted $6.6 million, and VanEck's ETHV ETF added $1.8 million, partially offsetting the losses. No other issuer recorded any inflows or outflows.
Data suggests that large institutions may be reducing their exposure to Ethereum, even as selected funds like Grayscale continue to attract capital.
The figures for ETF fund flows appeared alongside a technical price recovery. Ethereum's price briefly dropped to $2,372.85 on Friday in an intense sell-off characterized by a surge in trading volume of nearly five times the daily average, but it quickly recovered as buyers entered the $2,420-$2,430 range, according to CoinDesk Research's technical analysis model. Since then, this area has formed a strong support zone, confirmed by several tests at low trading volume, indicating accumulation in trading.
The trading volume over the past 24 hours increased by 18.97% above the 7-day moving average, reflecting a rise in trading interest during the price recovery period. Ethereum closed near $2,445, forming an upward trendline from its lows, although the key resistance remains at the $2,480-$2,500 level.
Key Technical Analysis
The trading pair against the U.S. dollar recorded a 24-hour trading range of $186.44 (7.25%), with a sharp sell-off to $2,372.85, marking the session's low.
The drop occurred at 5:00 PM, accompanied by a sharp increase in trading volume, reaching 993,622 units, nearly five times the daily average.
A key support zone formed between $2,420 and $2,430, supported by multiple successful retests with a gradual decrease in selling volume.
Ethereum recovered 38.2% from the Fibonacci retracement of the sell-off and built an upward trendline supported by higher lows.
During the period from 8:00 to 9:00 AM, trading volume accelerated again, indicating bullish momentum and pushing the price toward the $2,445 level.
In the last hour, Ethereum traded within a narrow range of $5.83, fluctuating between $2,440.14 and $2,443.45 at close.
The late-session high peaked at $2,447.02 (11:38 AM), with a surge in trading volume within the candle reaching 4,532 units.
The price then dipped slightly but found immediate support at $2,439.38, continuing its commitment to the short-term upward trendline.
