CandleFocus

Ethereum’s $3,400 Ceiling Sparks $163 Million ETF Outflows

The article states that Ethereum (ETH) spot exchange-traded funds (ETFs) have experienced a significant outflow of $163 million this week as the bullish sentiment surrounding the altcoin decreases. The outflow follows a period of record-breaking inflows, driven by Donald Trump's election victory. The bearish pressure on ETH's price is highlighted by the falling ETH/BTC ratio and Aroon Up Line, indicating a weakening uptrend and potential downtrend. However, there is a possibility of a bull flag pattern forming, which could signal a continuation of the uptrend if ETH breaks above the resistance level at $3,997.

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