#Ethereum Update: $ETH Fails to Hold $3K Amid ETF Outflows

Price Action: ETH dropped 2.8% to around $2,918, underperforming the broader crypto market (-0.12%). Losses extend its 7-day (-7.1%) and 30-day (-7.9%) downtrends.

ETF & Institutional Flows: Spot Ethereum ETFs recorded $224.8M in outflows, highlighting declining institutional interest amid market volatility.

Liquidations & Selling Pressure: Total crypto liquidations reached $582M, with $200M from ETH long positions. ETH’s correlation with Bitcoin and tech equities amplified downside pressure.

Technical Overview: ETH failed to hold $3,000 and now trades below all key moving averages. Resistance levels to watch:

Short-term: 10-day EMA $3,069 | 20-day EMA $3,087

Medium-term: 50-day EMA $3,261

Long-term: 200-day EMA $3,434

On-Chain Metrics: Network fees fell 45% month-over-month, active addresses dropped 14% week-over-week, and long-term holders distributed 847K ETH in 30 daysthe largest reduction since early 2021.

Outlook:

Support: $2,716 (200-week EMA) — failure could open the way to $2,300.

Upside: Reclaiming $3,200–$3,260 (50-day EMA) is needed to restore bullish momentum.

Market sentiment remains cautious amid weak momentum and fading demand.