Crypto markets are watching Ether as the price pressure softens after a sharp dip from the $3,650–$3,350 zone, with ETH hovering around the $3,200 mark. The move down met resistance near the 200-day exponential moving average (EMA), reinforcing a crucial ceiling even as spot ETF inflows begin to show early signs of revival.
Key takeaways:
- Spot Ether ETF inflows have recovered from $16.8 billion to $21.5 billion since November 21, a 28% uptick.
- Net taker volumes have improved, suggesting that aggressive selling is waning while buyers gradually return.
ETF inflows resume, but ETH charts reveal lingering fear among traders
Glassnode notes that spot ETH ETFs are finally showing renewed life after weeks of outflows. The 28% rebound in total ETF assets since November 21 points to firmer demand heading into year-end, though overall momentum remains shy of the roughly $32 billion peak seen in early October, indicating that institutional conviction hasn’t fully returned.
CryptoQuant data reinforces this view. Net taker volume stayed negative at –$138 million, but the improvement from October’s lows around –$500 million marks a meaningful shift. The market was dominated by aggressive sellers during the September–October drawdown, yet that dynamic appears to be fading gradually.
The 30-day moving average of net taker volume is climbing, marking a pattern last seen in early 2025 just before ETH surged 3x to a new all-time high. If this trend continues, a positive reversal in taker activity could serve as a strong trigger for another bullish ETH phase in the weeks ahead.
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ETH price sits at a support zone as derivatives cool down
Currently, Ether is testing the $3,100–$3,180 four-hour order block, a region that may act as a demand zone. ETH continues to respect its ascending channel, but momentum is clearly cooling, leaving the market at a pivotal juncture.
In a bullish scenario, defending the demand block and channel support could pave the way for a rebound toward the daily 200-day EMA. A decisive move above $3,450 would invalidate the earlier rejection and reopen the route toward the $3,900 resistance level.
Conversely, a breakdown below the ascending channel could confirm bearish momentum and prompt a retest of $3,000, a key support threshold.
Hyblock data suggests Ether derivatives currently support a neutral but fragile narrative. Aggregate open interest has unwound somewhat after the rejection. The funding rate sits mildly positive but not stretched, and the bid/ask ratio remains near neutrality, implying spot takers aren’t yet leaning aggressively bullish.
ETH’s next big move hinges on whether bulls can defend the demand zone long enough for improving taker flows and ETF demand to translate into sustained upside pressure.
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