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Will the inflow of Ethereum ETF prevent the further decline of ETH price?
The selling pressure on ETH prices continues, with analysts predicting that ETH prices will fall below $3,000 before the altcoin reverses its upward trend. After being rejected at $4,000, Ethereum has been trending sharply downwards, with a pullback of over 17% in ten days. On the other hand, the inflow of funds into the spot Ethereum ETF has accelerated, indicating that institutional demand for this asset class remains unchanged.
How low will the ETH price drop to?
After being rejected at $4,000 last week, Ethereum has retraced more than 17%. Today, the Ethereum price is hovering around $3,350, with no bullish catalyst at the moment. Therefore, analysts believe that the ETH price may further decline before resuming its upward trend.
According to the analysis shared by The Moon Show, Ethereum (ETH) appears to be breaking out of a symmetrical triangle pattern. This technical breakdown indicates a potential downside target of $2,920.
"Yes, we have seen a Christmas rebound, but with low trading volume driven mainly by retail activity," Bennett observed, indicating limited confidence behind the recent rise. Analysts believe that Ethereum may further decline, while it is expected to bottom out in early 2025. On the other hand, analysts also expect the price of Bitcoin to fall to $80,000, in which case Ethereum could also retract to $2,500."
Will the inflow of Ethereum ETF prevent the decline?
Although the price of ETH has been declining, the inflow of Ethereum ETFs in the spot market has resumed this week. In the past three trading days, the total inflow of Ethereum ETFs has exceeded 300 million US dollars.
On Thursday, the total inflow was $117 million, with Fidelity Ethereum ETF (FETH) recording an inflow of $83 million and BlackRock's ETHA recording an inflow of $28 million. According to data from Farside Investors, the total inflow of ETHA has exceeded $3.5 billion since its inception, while the total inflow of all Ethereum ETFs has now exceeded $2.6 billion. This indicates that despite recent price fluctuations, institutional demand for Ethereum remains strong.