Ethereum Price Slumps Amid Technical Momentum Deterioration
Ethereum (ETH) is experiencing a firm intraday selloff, trading at $2,389, down 1.68% on the session.
The price currently sits below its main short- and medium-term moving averages while remaining above its longer-term trend indicator.
Despite institutional inflows and increased liquidity driving substantial ETF trading, Ethereum spot ETFs recorded over $500 million in net inflows for the week with daily accumulation exceeding $200 million on multiple days.
The technical momentum deteriorates amid strong resistance and oversold signals, with ETH/USD positioned below the MA-20 ($2,415) and MA-50 ($2,428) on the hourly chart exposing the price to near-term downside.