Ethereum ETF Outflows Amid Technical Bullish Setup Near $3K Support

Source: CryptoNewsNet Original Title: Ethereum price stalls at $3K as ETH ETFs record $19.4M in outflows Original Link:

Ethereum ETF Outflows and Market Analysis

Ethereum spot ETFs recorded $19.41 million in net outflows on December 12 as ETH price stalled near the $3,000 level.

Key Highlights

• Ethereum ETFs posted $19.41M in net outflows on December 12 amid mixed fund activity
• BlackRock ETHA saw inflows, but Grayscale and Fidelity outflows dragged totals lower
• Analysts flag bullish ETH setup despite short-term weakness near $3,000 support

BlackRock’s ETHA attracted $23.25 million in inflows while Grayscale’s ETHE and ETH funds posted combined withdrawals of $36.52 million.

Ethereum (ETH) traded at $3,157 with a 24-hour range of $3,054.43 to $3,261.13. The token has dropped 5.4% over the past 24 hours and 12.6% over the past 30 days.

Mixed Flows Across Ethereum ETF Providers

The December 12 outflows followed a volatile week for ETH ETFs. December 9 posted one of the largest inflow at $177.64 million, followed by $57.58 million on December 10.

The funds then reversed with $42.37 million in outflows on December 11 before Thursday’s $19.41 million withdrawal.

Fidelity’s FETH saw $6.14 million in outflows on December 12. Grayscale’s legacy ETHE fund recorded $14.42 million in redemptions, while Grayscale’s mini ETH trust posted $22.10 million in withdrawals.

Bitwise’s ETHW, VanEck’s ETHV, Franklin’s EZET, 21Shares’ TETH, and Invesco’s QETH all posted zero flow activity.

BlackRock’s ETHA remains the largest ETH ETF with $13.23 billion in cumulative net inflows. Grayscale’s ETHE holds -$5.02 billion in net outflows since converting from a trust structure. Fidelity’s FETH has accumulated $2.66 billion in total inflows.

Total net assets under management for Ethereum ETFs stood at $19.42 billion as of December 12. Cumulative total net inflow across all funds reached $13.09 billion. Total value traded hit $1.84 billion on December 12.

Technical Analysis: Inverse Head and Shoulders Pattern

Analysts have identified an inverse head and shoulders formation on Ethereum’s chart with a price target of $4,955.90. “Price recently launched higher from the volume shelf and is moving to the $3,300 volume shelf for a potential launch area,” according to technical analysis.

The technical pattern suggests bullish continuation after ETH completes the formation. The $4,955.90 target would represent a roughly 57% gain from current levels.

Liquidity analysis highlights key price levels: Ethereum has a significant liquidity cluster at the $3,000 level. On the upside, liquidity clusters exist at the $3,150 and $3,250 levels.

ETH could sweep downside liquidity at $3,000 before reversing higher, similar to Bitcoin’s recent price action. The $3,150 and $3,250 levels are near-term resistance zones where limit orders have accumulated.