🔷Ethereum is trading near $3,992 after breaking below the $4,035–$4,080 zone and testing the 50-day EMA. The sell-off was intensified by institutional flows: ETH ETFs saw $248 million in outflows in a single day, with $200 million linked to BlackRock. Such withdrawals weigh on sentiment and point to ongoing consolidation. Analysts highlight the $3,850–$3,900 range as crucial for maintaining market balance.
🔷Despite the bearish backdrop, technicals leave room for a rebound. The RSI is nearing oversold territory, hinting at a potential cyclical low. If buyers defend $3,850, ETH could recover toward $4,200–$4,285. However, a break lower could send it down to $3,500, amplifying correction risks.