Ethereum is up more than 2% on Tuesday following minor inflows across ETH ETFs.
Ethereum ETF s saw $5 million in net inflows as Grayscale Ethereum Trust ended its outflow streak. Investors are accumulating Ethereum , as evidenced by increased outflows and declining reserves across ETH exchanges. Key technical indicators suggest Ethereum could decline 25% to approach the $2,000 psychological level.
ETH/USDT Daily chart The %K line of the Stochastic Oscillator was rejected at the 50 midpoint and is now at 48, tilting downwards slightly in an attempt to cross below the %D line. Such a move in the Stoch indicates cautiousness, with sentiment tilted toward a short-term bearish move. The Fibonacci retracement suggests ETH could find support at the 23.6% level, which is currently around $2,453. The 23.6% level is one of the key Fib ratios, along with 38.2%, 50% and 61.8%.
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