ETH Price Rebounds 7.25% After $11.3 Million Institutional Outflows

Ether (ETH) experienced a tumultuous week, marked by significant institutional outflows and a sharp price swing. On Friday, June 20, spot ETH ETFs listed in the U.S. recorded $11.3 million in net outflows, the largest single-day decline for the month. This outflow was predominantly driven by BlackRock’s ETHA ETF, which saw a $19.7 million outflow, 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 issuers recorded inflows or outflows, suggesting a mixed sentiment among institutional investors.

The price of ETH dipped to $2,372.85 during a heavy sell-off on Friday, but swiftly recovered as buyers stepped in around the $2,420–$2,430 range. This area has since formed a solid support zone, validated by multiple low-volume tests suggesting accumulation. The 24-hour trading volume surged 18.97% above the 7-day moving average, reflecting elevated trading interest during the price recovery. ETH closed near $2,445 and formed an ascending trendline of higher lows, though key resistance remains at the $2,480–$2,500 level.

The technical analysis highlights a 24-hour trading range of $186.44 (7.25%), with a steep sell-off to $2,372.85 marking the session low. The drop occurred during the 17:00 hour and was accompanied by a sharp spike in trading volume, reaching 993,622 units—nearly 5x the daily average. A key support zone formed between $2,420 and $2,430, reinforced by multiple successful retests with progressively lower sell-side volume. ETH reclaimed 38.2% of the Fibonacci retracement from the sell-off and built an ascending trendline supported by higher lows. During the 08:00–09:00 hour, volume accelerated again, signaling bullish momentum and lifting price toward the $2,445 level. In the final hour, ETH traded within a narrow $5.83 band, ranging from $2,440.14 to a close of $2,443.45. A late-session rally peaked at $2,447.02 (11:38), with an intra-candle volume burst of 4,532 units. The price then dipped slightly but found immediate support at $2,439.38, continuing to respect the ascending short-term trendline.

The data suggests that large institutions may be reducing their ETH exposure, even as select funds like Grayscale continue to attract capital. The rebound in price, despite the outflows, indicates that there is still significant interest in ETH among investors. The formation of a support zone and the ascending trendline suggest that ETH may continue to recover, provided it can break through the key resistance levels. However, the elevated outflows and the sharp price swing highlight the volatility and uncertainty in the market, which investors should be aware of when making decisions.