Ethereum Price Rises Slightly Despite Massive $447M ETF Outflows

The Ethereum price climbed a fraction of a percent in the last 24 hours to trade at $4,283 on a 60% decrease in trading volume to $19.02 billion.

The jump in ETH price comes despite Ethereum ETFs recording one of their sharpest single-day outflows on September 5, reaching $447 million. Led by BlackRock’s $309.9 million withdrawal, followed by Grayscale ($51.7 million) and Fidelity ($37.7million). This marked the second-largest single-day outflow on record, only behind August 4’s $465M.

Ethereum Price Slides as ETFs Face Major Outflows

Despite the withdrawals, ETF trading volume hit $2.79B, indicating repositioning rather than a total market exit. Ethereum’s price hovered around $4,300, down from its $4,900 peak earlier in the month.

Ethereum ETFs Outflows. Source: SoSo Value

The outflows dragged Ethereum ETF assets under management to $27.64 billion, reversing August’s strong $3.87billion inflows. Bitcoin ETFs also saw $160million in redemptions, showing a broader institutional pullback amid market volatility.

Analysts remain split: some expect inflows to return if Ethereum stabilizes, while others see caution persisting under uncertain macro conditions. Still, Ethereum ETFs continue to hold billions, accounting for 5.3% of ETH’s market cap, keeping them a key force in U.S. markets.

Ethereum Price Analysis: ETH Holding Support, Could Rebound Higher

Ethereum price is trading near $4,275 after dropping slightly by 0.74% in the last 24 hours. The chart shows that ETH is now testing an important support level and could be getting ready for another upward move.

Earlier, Ethereum was stuck in a bearish channel, with the price falling steadily until it found strong support around $2,200 in April, entering a long consolidation phase, where it traded sideways as buyers and sellers balanced out.

In July, ETH broke out of this range and started a strong rally, moving along a rising parabolic curve. The rally pushed ETH above $4,000 and close to $4,900 before sellers stepped in and slowed the momentum. This resistance zone is marked as R1 on the chart.

ETHUSDT (1 Day Chart Analysis). Source: Tradingview

Now, ETH has pulled back and is retesting the $4,200 support level, which lines up with the rising trendline. If this level holds, Ethereum could bounce back toward $4,900 in the short term and possibly aim for $6,000 in the coming weeks.

The Relative Strength Index (RSI) is at 48.93, close to the neutral 50 mark. This suggests that ETH is not overbought or oversold, giving room for the price to move in either direction. The RSI also shows that the recent cooling off in momentum may open the way for buyers to step back in.

If Ethereum holds above $4,200, the outlook remains bullish, with traders watching for a rebound toward $4,900 and beyond. But if ETH breaks below this support, the price could fall back to the $3,600 zone, which acted as support during July’s rally.