🔷On December 12, spot Ethereum ETFs recorded a net outflow of $19.41 million, as ETH consolidated near the $3,000 level. Inflows into BlackRock’s ETHA fund were insufficient to offset withdrawals from Grayscale and Fidelity products. Over the same period, ETH declined 5.4%, reinforcing investor caution after a volatile week marked by sharp swings in ETF flows.
🔷Despite the pressure, analysts remain cautiously optimistic. The technical setup suggests the formation of an inverted head-and-shoulders pattern, with a potential upside target near $4,950. The $3,000 level remains a key support zone, while $3,150–$3,250 represents immediate resistance. The market’s reaction at these levels is likely to determine Ethereum’s next directional move.