Ethereum price is holding steady above key levels even as heavy ETF withdrawals test investor confidence.
Summary
- Ethereum price rebounds above $4,100 despite a record $796 million in net outflows from spot ETFs last week.
- Major issuers led the Ethereum ETF withdrawals with Fidelity’s FETH seeing $362 million in redemptions and BlackRock’s ETHA losing over $200 million
- Technical setup shows consolidation, with ETH resistance around $4,300, as oversold conditions helped spark the bounce.
Ethereum ETFs have been under pressure this month, posting mixed performance amid cooling institutional demand. The nine U.S.-listed funds recently recorded five consecutive days of net outflows, totaling about $796 million for the week ending September 26.
This marks the largest weekly withdrawal since the funds launched, surpassing the previous record set earlier this month. The bulk of the outflows came from major issuers, with Fidelity’s FETH leading at around $362 million in withdrawals, followed by BlackRock’s ETHA with over $200 million pulled from its holdings.
Other funds, including Grayscale’s Ethereum Trust and 21Shares’ TETH, also contributed to the overall decline, though to a smaller extent, per SoSoValue data. The pullback a sharp reversal from their bullish momentum only months ago, when the funds combined pulled impressive inflows of nearly $5 billion in a single month, briefly outpacing their Bitcoin counterparts by a wide margin.
Despite the recent underperformance, retail buying and broader market recovery have seen Ethereum (ETH) price defy the negative sentiment and rebound to reclaim the $4,100 level.
Ethereum price holds $4100 amid ETF pressure
Ethereum price sits around $4,140 at press time, marking a 3.3% gain in the last 24 hours. This rebound comes after a dip below $3,900 last week, driven by heavy selling pressure seen across the entire market.
Before the latest dip, Ethereum’s price had experienced a rally that took it close to $4,700, driven by strong demand and positive anticipation around upcoming protocol upgrades. The decline since then, however, erased much of those gains, leaving ETH down roughly 6.7% for the month.
ETH’s chart now shows consolidation within a range between $3,800 and $4,300, with support at $3,500 serving as a critical liquidity zone. The relative strength index (RSI) suggests the asset briefly entered oversold territory, likely fueling the recent bounce as buying interest gradually returns.
Looking ahead, Ethereum price faces resistance near $4,300, with potential upside targets set at $4,500 if the ongoing recovery gains momentum. The token is expected to test its support levels before a clear breakout emerges, but the medium-term outlook remains positive.