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The spot ETF has sustained daily net inflows, but the coin price has not significantly risen, which clearly indicates that large whales or retail investors are continuously offloading, offsetting the impact of the net inflows.
Throughout the day, the ETH oscillation pattern has been broken, with the 2550 support lost, signaling a change in the market.
The 4-hour technical analysis shows that after the breakout, the MACD indicator's two lines cross below the zero axis, forming a clear bearish arrangement, further confirming the bearish dominant trend.
It is recommended to place short positions around the 2550-2570 line, targeting 2520 and 2490.