Ethereum News Today: Ethereum ETF Inflows Clash with Selling Pressure at Critical $2,620 Support

Ethereum (ETH) tested critical support levels near $2,620–$2,630 on November 21, 2025, as traders braced for a potential confirmation of a broader bear market trend. The price action coincided with a $55.7 million net inflow for Ethereum spot ETFs, ending an eight-day outflow streak, though the token remained below $2,800 amid persistent selling pressure. Technical analysts highlighted the significance of the $2,620 level, which aligns with session lows, weekly troughs, and the 61.8% Fibonacci retracement on the 4-hour chart.

The $2,620–$2,630 zone represents a key juncture for Ethereum, serving as a confluence of multiple support levels. Traders noted that a sustained rebound from this area could signal short-term relief, but a break above $3,000–$3,200 would be required to reverse the downward trajectory. The 4-hour chart showed buyers accumulating at the channel's lower boundary, though weekly closes remain critical for confirming a reversal. Meanwhile, Ethereum's 30-day decline of 28.9% underscored broader market weakness, outpacing Bitcoin's relative resilience.

Analysts emphasized the psychological and technical importance of the $2,620 level, which overlaps with the June support zone and the 2025 lows of $1,384. A breakdown below this threshold could trigger further declines toward $2,100, a level tied to mid-2024 volatility. Conversely, a sustained close above $3,000 would challenge the descending channel's upper boundary and rekindle bullish momentum. The weekly close remains pivotal for determining whether Ethereum can reestablish a bottoming pattern or face a deeper correction.

Ethereum's performance reflects broader crypto market dynamics, with its 18.4% annual decline outpacing Bitcoin's more moderate pullback. The ETF inflows, while a positive signal, have yet to translate into a sustained price rebound, suggesting lingering uncertainty among investors. As the market navigates this critical juncture, traders will closely monitor both on-chain activity and macroeconomic developments for clues about the next phase of the ETH price action.