ETH stabilizes around $1,570 thanks to whale testing support

Ethereum is trading around $1,570 to $1,580 after a quiet weekend that failed to ease pressure on the second-largest cryptocurrency.

Prices have remained largely range-bound, even as new tensions in the Middle East test risk appetite across global markets.

The calm movement does not mean that the market has become solid. $ETH It remains below the $1,800 level, which many traders consider a key recovery zone. The asset is also under pressure from ETF outflows, whale sales and weak spot demand.

ETF outflows weigh on Ethereum sentiment

The U.S. Spot Bitcoin ETF and Ethereum ETF recorded their seventh consecutive day of outflows on June 26, according to data from SoSoValue. The Spot Bitcoin ETF recorded net outflows of approximately $445 million, and the Spot Ethereum ETF recorded net outflows of $12.848 million.

Although Ethereum’s outflows were smaller than Bitcoin’s, this continued outflow is important because ETFs serve as a stable source of spot demand. If the flow remains negative for several days, that support will weaken. This results in $ETH Because it recovers when traders are already cautious.

In previous Ethereum ETF coverage, $ETH It was already testing large-scale support as withdrawals increased. This pressure continued into late June, and the market is now focused on whether institutional investor demand returns.

Another price analysis noted that: $ETH BitMine still trading near $1,600 after reportedly buying another $75,000 $ETH. This showed that large purchases were not enough to reverse the broader downtrend.

Whales sell to weak support

Analyst Ali Martinez said large holders sold about 550,000 shares. $ETH Over the past week. At current prices, this sale represents approximately $880 million in marketable fresh supplies.

The analyst said this selling helped push Ethereum below the immediate support level at $1,633. $ETH is currently testing the volume support near $1,583, but traders are keeping a close eye on this level as a clean break could pave the way for further losses.

Ali said if the sell-off continues into next week, the next areas to see heavy demand could remain around $1,237 and $1,089. Although these levels are not guaranteed targets, past trading activity indicates when they are likely to attract buyers. $ETH Break lower.

This pressure matches the current chart structure. $ETH continues to make new highs, and buyers have not yet shown enough strength to reclaim the $1,800 area.

Analyst opinions are divided $ETHnext move

Money Ape warned that Ethereum could record three consecutive quarters of losses for the first time. Analyst said: $ETH If market confidence continues to decline, it could fall below $1,000.

This view reflects the bearish aspects of the current regime. Ethereum has not been able to quickly recover from the decline, and traders remain concerned about ETF outflows, whale activity, and weak momentum.

Michael van de Poppe took a different view. He said that while levels below $1,800 are not attractive for day trading, they can present a strong opportunity for long-term savings.

he also said $ETH A bullish divergence may be forming over several time frames. In his view, a clear break above $1,800 would be more beneficial than trying to catch every small move within the current downtrend.

Van de Poppe also pointed to the lower bounds around $1,505 and $1,385 as buy zones if this happens. $ETH Wipe out liquidity. He said he doesn’t think the market wants a big drop, but would still like to see a clean recovery above $1,800.

Derivatives data shows sellers remain in control

CryptoQuant analyst PelinayPA said that Ethereum’s buy-to-sell ratio on Binance is still above 1. This usually indicates high buying activity, but $ETH A strong recovery has not yet been achieved.

The analyst said the subdued response suggests large sellers may be absorbing buy orders. Simply put, buyers are aggressive, but not powerful enough to push prices up.

The report stated that Ethereum fund prices have been declining since April. This suggests that traders are reducing their long exposures in the derivatives market, reducing risk.

This creates a weak setup $ETH. Even if purchasing activity picks up, price movements will remain weak. That can happen when whales take advantage of short pullbacks to sell on demand.

Analyst said: $ETH While new lows continue to develop, lower highs are still forming. This confirms that the broader bearish structure will persist until Ethereum breaks its current downtrend.

Ethereum price outlook

Ethereum’s near-term outlook currently relies on the $1,583 support area. If the buyer protects this zone, $ETH $1,633 and could attempt another move towards $1,800.

A clean break above $1,800 would be the first strong sign that the bulls are regaining control. It is also possible that after weeks of weak trading, the focus could once again shift to the high resistance zone.

if $ETH If there is a loss of $1,583, a trader might focus on $1,505 and $1,385. If the whale sell-off continues, the decline could deepen further and focus on the $1,237 and $1,089 demand zones.

For now, Ethereum is stable, but not strong. Prices have settled around $1,570, but risks remain tilted toward testing downside support again due to ETF outflows, whale distributions, and weak derivatives demand.