Ethereum ETFs recorded net outflows of $70.7 million on July 24, with BlackRock accounting for the largest share at $52.8 million withdrawn from its ETH fund. This interruption of sustained inflows reignited concerns over institutional demand as investors began taking profits near the key $1,950 resistance level. ETH suffered a significant rejection from this supply zone, breaking out of the ascending channel with the RSI falling to 54.05, signaling weakening buying pressure. Exchange inflows also increased with $5.92 million in net flows to platforms, adding further selling pressure. The next key support level now sits at $1,800, with liquidity clusters concentrated between $1,875 and $1,890 on the short side and between $1,830 and $1,840 on the long side.
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