Ethereum price outlook improves as U.S. spot ETH ETF inflows resume

Ethereum price is eyeing a recovery as U.S. spot exchange-traded funds record $141 million in inflows, indicating renewed investor confidence after days of outflows.

Ethereum is trading at $3,857, down 0.2% in the past 24 hours. Over the last seven days, the token has fluctuated between $3,709 and $4,183, resulting in a 10% drop over the previous 30 days and a 6% weekly loss. Ethereum is still 21% below its peak of $4,946 in August.

Despite the recent pullback, Ethereum’s ($ETH) market activity is picking up. The 24-hour trading volume rose 35.2% to $45.8 billion, while derivatives volume jumped 57.3% to $114.2 billion, according to CoinGlass data.

Open interest also edged up 0.6% to $43.8 billion, suggesting traders are beginning to rebuild positions after last week’s correction.

Spot $ETH ETFs resume inflows

After three consecutive days of redemptions, U.S. spot Ethereum ETFs recorded $141.6 million in net inflows on Oct. 21, data from SoSoValue shows. Fidelity’s FETH led with $59.07 million, followed by BlackRock’s ETHA with $42.46 million.

Grayscale’s Mini $ETH and ETHE saw smaller but notable inflows of $22.58 million and $13.14 million, respectively. No ETFs reported outflows for the day.

Analysts say this renewed inflow could help boost the $ETH price in the short term, particularly if momentum continues through late October. Investors are also watching the upcoming FOMC rate decision (Oct. 28–29), where markets are pricing in a 95% probability of a 25 bps rate cut.

Risky assets like cryptocurrencies may see an increase in liquidity if a dovish signal is issued. However, a hawkish stance from the Fed might rekindle macro pressure.

Ethereum price technical analysis

The daily chart shows Ethereum trading below the Bollinger Band midline at $4,146, with resistance at $4,720 and support near $3,563. Price compression is suggested by the narrowing bands, which often come before a significant directional move.

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Ethereum daily chart | Source: crypto.news

With a relative strength index of 41.15, the market is not yet in oversold territory but is showing some bearish momentum. A short-term recovery could be confirmed by a bounce above 45–50 RSI, but another decline could be triggered by a break below 40.

The majority of moving averages, such as the 10-, 20-, 50-, and 100-day EMAs, flash sell signals, indicating that the trend is still weak in the short term. The 200-day EMA, however, sits lower at $3,570, still suggesting a long-term uptrend.

$ETH may gain traction above $3,900 and retest the $4,350–$4,500 range if ETF inflows continue and the Fed confirms a rate cut. If inflows slow or macro sentiment worsens, Ethereum may fall below $3,800, opening the path toward $3,560 support or even $3,400.