Ethereum is under pressure because the ETFs based in the US have seen it seen for seven weeks in a row. This week nine Ethereum ETFs lost a total of $ 82.47 million. This steady withdrawal of funds has taken a toll from the price of ETH, which fell by 10% last week. Slipping with Momentum, do many wonder now, will there be a larger crash next week?
Ethereum ETF -outflow continues
On April 11, Ethereum saw spot ETFs a total Outflow of $ 29.2 millionMaking it the fourth day in a row with negative movement. Leading the outflow costs was the Grayscale (ETHE) fund, which registered the highest recording at $ 26.1 million, followed by Bitwise (ETHW), which saw $ 3.1 million withdrawn.
This continuous decrease in supporting large investors causes more sales, which reduces the price of Ethereum.
But it is not only the money that extends concerning concern. The network activity of Ethereum also slows down when fewer users have interaction with apps built on the Ethereum -Blockchain.
In fact, unique active portfolios on Ethereum have fallen by more than 33% in the last month. For comparison: Solana only saw a 16% decrease, while Tron saw an activity of 16% increase.
Major Bank loses confidence in ETH
To make matters worse, Standard Chartered Bank has reduced its price objective for the year for ETH by 60%. The bank now expects Ethereum to end the year around $ 4,000, which is concerned about its scalability and competition.
They believe that Ethereum has become too dependent on Layer 2 networks and possibly lose his lead.
Will the ETH price continue to fall?
The price of Ethereum is over 10% in the past weekAnd things can get worse if the question keeps falling. Without strong support from large investors, it is more difficult for ETH to bounce back soon.
At present, graphs show a bearish -trend, which means that sellers still have control. If the price falls below $ 1500, it can fall even further, possibly until the range of $ 1,300 or $ 1,200.
On the other hand, if ETH is strong and above $ 1,700 climbs, there is a chance of a short -term recovery. In that case the price could rise to $ 1,900 or even $ 2,000 in the coming days.
