ETH Falls 2.02% to $2,378 as ETF Outflows Weigh on Price
- —ETH trades below its 7-, 15-, 30- and 50-day SMAs but above the 90- and 200-day averages
- —Daily volume of $8.61 billion is 31.44% below the 30-day average
- —Spot ETH ETFs lost $320.1 million from October 12 to 16 versus $228.4 million in BTC funds
- —RSI at 36.2 and stochastic at 17.6 point to weakness while leaving room for a technical bounce
Why it matters: ETH holds above its long-term averages, but thin volume and ETF outflows argue against aggressive buying.
Source: DiarioBitcoin