Key takeaways
- Ethereum rebounds above $2,400 after sharp market selloff
- Spot ETH ETFs attract $53 million after prolonged withdrawals
- Breaking $2,500 could strengthen Ethereum's November recovery
ETH reached approximately $2,434 during the rebound before easing toward $2,390 on November 5. The move followed a decline toward $2,200 earlier in the week, although the cryptocurrency still faces resistance around $2,450-$2,500.
Ethereum ETFs Break Seven-Day Selling Streak
According to Farside Investors, US spot Ethereum ETFs recorded approximately $53 million in net inflows on November 4, reversing seven consecutive trading sessions of withdrawals totaling $656.4 million.
BlackRock's ETHA attracted $32.8 million, while Fidelity's FETH added $19.2 million. Grayscale's ETHE and Ethereum Mini Trust also recorded positive flows, although BlackRock's separate ETHB product experienced $22.4 million in withdrawals.
The reversal is particularly important because institutional selling had intensified throughout October, when Ethereum ETFs lost approximately $1.61 billion.
The latest inflows also contrast with the $571 million withdrawal streak recorded through November 2, when concerns about weakening institutional demand pushed ETH toward $2,200.
However, one positive trading session does not necessarily indicate sustained accumulation. Investors will be watching whether additional inflows accompany Ethereum's attempt to establish support above $2,400.
Ethereum Price Prediction: Can ETH Reach $2,500?
Ethereum's technical outlook has improved considerably since its early-November decline, although several resistance levels remain overhead.
Technical indicators published November 5 place immediate resistance near $2,453, followed by approximately $2,497–$2,500. A sustained recovery above that region could bring $2,550 into focus.
The first important support sits around $2,390, followed by $2,357. Losing both levels would weaken the recovery and potentially expose $2,300.
| ETH Price | Technical Significance |
|---|---|
| $2,550 | Extended bullish target |
| $2,500 | Major psychological resistance |
| $2,453 | Immediate breakout resistance |
| $2,390 | Near-term support |
| $2,357 | Secondary support |
| $2,300 | Deeper downside scenario |
Ethereum's daily relative strength index has recovered toward 54, suggesting momentum has improved without reaching traditionally overbought territory.
That represents a meaningful change from the previous $2,400 recovery attempt, when weakening ETF demand remained the dominant concern.
Can Institutional Demand Sustain Ethereum's Recovery?
Ethereum's rebound has coincided with a broader cryptocurrency market recovery following the US midterm elections.
Lower Treasury yields and a weaker dollar initially supported risk-sensitive assets, while Bitcoin also rebounded toward $80,000. However, macroeconomic uncertainty remains elevated ahead of the November 6 US employment report.
The data could influence expectations for Federal Reserve policy, potentially affecting both cryptocurrency prices and institutional investment flows.
Ethereum's recent ETF-driven weakness demonstrates that improving prices do not always translate into sustained fund demand.