Ethereum (ETH) experienced a slight recovery on Saturday following a turbulent week marked by significant institutional outflows. On June 20, U.S.-listed spot ETH ETFs recorded a net outflow of $11.3 million, the largest single-day decline in June, according to data from Farside Investors.
The primary driver of these outflows was BlackRock’s ETHA ETF, which saw a $19.7 million withdrawal—its first negative flow this month. Meanwhile, Grayscale’s ETHE product attracted $6.6 million and VanEck’s ETHV ETF added $1.8 million, partially offsetting the losses. No other funds registered notable inflows or outflows.
These figures indicate that large institutional investors may be trimming their Ethereum positions, even as some funds continue to attract capital.
Alongside the ETF flows, ether’s price saw a technical rebound. On Friday, ETH briefly dropped to $2,372.85 during a sharp sell-off accompanied by trading volume nearly five times the daily average. Buyers stepped in around the $2,420 to $2,430 range, establishing a firm support zone confirmed by several low-volume retests suggesting accumulation.
The 24-hour trading volume surged nearly 19% above the seven-day average, reflecting increased market activity as the price recovered. ETH closed near $2,445, forming an ascending trendline of higher lows. However, key resistance remains between $2,480 and $2,500.
Technical Analysis Highlights:
- ETH-USD traded within a 24-hour range of $186.44 (7.25%), with a low at $2,372.85 during the 17:00 hour.
- Sell-off volume spiked to 993,622 units, almost five times the daily average.
- Strong support confirmed between $2,420 and $2,430 after multiple retests with decreasing sell-side volume.
- ETH recovered 38.2% of the Fibonacci retracement and built an ascending trendline supported by higher lows.
- Volume rose again between 08:00 and 09:00, driving price up toward $2,445.
- The session closed in a narrow $5.83 range, from $2,440.14 to $2,443.45, with a late rally peaking at $2,447.02.
- Price dipped slightly but found immediate support at $2,439.38, maintaining the short-term ascending trend.
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