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Ether (CRYPTO:ETH) traded near $3,200 after being rejected from the $3,650–$3,350 supply zone, with the move aligning with the 200-day EMA, which reinforced overhead resistance.
Spot ETH ETF inflows increased from $16.8 billion to $21.5 billion since 21 November, marking a 28% rise and signalling early demand recovery.
Glassnode said spot ETH ETFs are showing “the first signs of life” after weeks of outflows as inflows rebound into year-end.
Demand remains below the $32 billion peak seen in October, indicating institutional sentiment has not fully returned.
CryptoQuant data showed net taker volume at –$138 million, improving significantly from October’s –$500 million, suggesting aggressive selling pressure is easing.
The 30-day moving average of taker volume is forming ascending lows, a structure last seen before ETH’s 3x rally to a new all-time high in early 2025.
Analysts suggest that if taker volume flips positive, ETH could enter a fresh bullish breakout phase in the coming weeks.