Ethereum (ETH): Hovering around the $2,300 mark, ETF funds continue to flow out

According to real-time data, Ethereum is currently priced at approximately $2,266, with a 24-hour increase of about 0.94%, and the overall fluctuation range is consolidating between $2,200 and $2,300. Other data sources show Ethereum trading near $2,283, with a slight upward trend intraday.

Funding: Continuous ETF outflows constitute short-term resistance. On April 29, Ethereum spot ETF recorded an net outflow of about $87.72 million, marking the third consecutive day of capital outflow. Last week, Ethereum ETFs had an overall net inflow of approximately $155 million, but this week's repeated capital fluctuations have increased short-term pressure. However, BlackRock's ETHB product still maintains a daily net inflow of about $29.1 million, indicating that leading institutions are still accumulating at low levels.

Market sentiment and technical analysis: Trading volume has decreased by about 47% over the past 24 hours, with market participation significantly shrinking. The daily technical chart remains in a narrow oscillation pattern. Analysts generally believe that $2,000–$2,050 is the core defensive zone for bulls, and losing this level could open the downside space. Resistance above is concentrated around $2,400–$2,500, which is also the area of the 100-day moving average resistance zone.

Notable risk events to watch: In April, the cryptocurrency industry experienced hacks resulting in approximately $630 million in losses, including a $292 million exploit of Kelp DAO and a $5 million attack on Wasabi Protocol, drawing attention to DeFi security. While these security incidents did not directly impact ETH prices, they indirectly suppressed market sentiment.

Order entry point strategies

Long position (conservative): Enter long positions in the $2,050–$2,100 range, with a stop loss below $2,000, first target at $2,300, and second target at $2,400–$2,500. This zone contains a concentrated cost basis of about 3.5 million ETH, providing strong support.

Long position (aggressive): If the price volume effectively stabilizes above $2,350, consider a light long position, with a stop loss at $2,280 and a target of $2,500.

Short position (short-term): Attempt to short when encountering resistance in the $2,280–$2,320 range, with a stop loss above $2,400, and targets at $2,100–$2,150.

Key support levels: $2,100 → $2,000 → $1,900

Key resistance levels: $2,350 → $2,400 → $2,500