Ethereum price today trades near $2,240 after stabilizing above the $2,100 support zone tested earlier this week. The session shows a divergence in flows, with ETF channels recording their first inflows in three days while spot markets continue heavy distribution, creating mixed signals for near-term direction.
Ethereum price today trades near $2,240 after stabilizing above the $2,100 support zone tested earlier this week. The session shows a divergence in flows, with ETF channels recording their first inflows in three days while spot markets continue heavy distribution, creating mixed signals for near-term direction.
Ethereum spot ETFs $14.06 million in net inflows on February 3, breaking a three-day streak of outflows that saw $408 million exit the funds. BlackRock’s ETHA led with $42.85 million in inflows, while Grayscale’s ETHE and Fidelity’s FETH recorded smaller outflows of $8.25 million and $54.84 million respectively.
Total ETF assets under management stand at $13.39 billion with cumulative inflows of $11.99 billion since launch. The positive flow day suggests some institutional buyers view current levels as attractive entry points, though the magnitude remains small compared to recent outflows.
The news section notes that Bitcoin ETFs saw $272 million in net outflows on February 3, while Ethereum ETFs recorded the $14.06 million inflow. The relative outperformance of ETH flows compared to BTC flows is notable given Ethereum’s sharper price decline.
Despite the positive ETF flow, spot markets tell a different story. Coinglass data shows $112.15 million in net outflows on February 4, one of the larger distribution days of the past month.
The divergence between ETF inflows and spot outflows suggests retail and non-institutional holders are selling while some institutional buyers accumulate.
On the daily chart, Ethereum trades well below the bull market support band, which spans from $3,210 to $3,424. This band has historically separated bull markets from bear markets, and the decisive break below it confirms the bearish macro structure.
Price trades below all four major EMAs. The 20 day EMA sits at $2,720, the 50 day at $2,933, the 100 day at $3,126, and the 200 day at $3,243. The entire EMA stack has turned into overhead resistance that buyers must reclaim to shift momentum.
The $2,100 horizontal support represents the next major level. This zone held during the May 2025 correction and marks the boundary between the current correction and a potential deeper breakdown toward $1,800.
On the 30-minute chart, Ethereum trades within a descending channel that has guided price action since January 30. Channel resistance sits near $2,350, while support runs through the $2,100 zone.
RSI sits at 42.28, neutral territory that provides room for movement in either direction. MACD has turned positive with the histogram expanding, suggesting short-term momentum may be shifting after the oversold bounce.
Price is testing the channel midline near $2,240. A break above $2,300 would signal a push toward channel resistance, while rejection here would target another test of the $2,100 support.
The trend remains bearish while price trades below the bull market support band and spot outflows persist.
