10-Day ETF Inflow Ends… Ethereum's Warning Lights On

▲ Ethereum (ETH) ©Godasol

An analysis suggests that Ethereum (ETH) has lost its direction in the early $2,300s and stands at a crossroads of 'rise or collapse'.

According to the investment media TradingNews on April 24 (local time), Ethereum is currently trading at approximately $2,322, trapped in a narrow range between the $2,400 resistance level and the $2,255 support level. Over the past 48 hours, institutional capital outflows and technical bearish signals have emerged simultaneously, rapidly shaking the market structure.

The most notable change is institutional supply and demand. Ethereum spot ETFs recorded a net outflow of approximately $75.94 million, breaking a 10-day streak of inflows. This marks the first outflow signal after cumulative inflows of about $630 million, indicating that institutional investors have turned to profit-taking and a wait-and-see approach.

Technically, warning signs are also clear. The Moving Average Convergence Divergence (MACD) maintains a bearish signal at -12.4, and the Relative Strength Index (RSI) has fallen to 39, indicating strengthened selling pressure. Especially as it enters a phase testing the uptrend line that has continued since the February low, analysis suggests that a break could open the way for declines to $2,200 and $2,000.

However, there are also positive factors in structural supply and demand. Bitmine has staked approximately 3.5 million ETH, worth about $8.35 billion, securing about 4.1% of the total supply. This is 'locked capital' aimed at long-term profits rather than simple investment funds, and it is interpreted as a medium-to-long-term basis for a rise, as it has the effect of reducing the circulating supply in the market.

The market views whether Ethereum breaks above $2,400 as a key turning point for a short-term rebound, while a breakdown below $2,255 would act as a signal for further decline. With institutional capital outflows, DeFi risks, and macroeconomic variables all converging, the next 5-7 days are expected to be a critical period for determining direction.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*