Ethereum faced fresh pressure as U.S. spot ETF outflows picked up, while price traded near a tightening technical structure. At the same time, ETF data and short term charts pointed to a market waiting for a clear directional break.
Ethereum ETF outflows concentrate in BlackRock
U.S. spot Ethereum ETFs posted a net outflow of about $93.8 million on Jan. 9, based on the flow table shared alongside a post from market commentator Ted Pillows.
Ethereum ETF Flow Table. Source: Ted Pillows X/Farside
BlackRock’s iShares Ethereum Trust (ETHA) accounted for most of the move, with roughly $83.8 million in net outflows on the day. Grayscale’s ETHE also showed about $10.0 million in outflows, while the rest of the listed products recorded no net change.
The Jan. 9 result followed two earlier net outflow sessions in the same table. On Jan. 8, the total showed about $159.2 million in outflows, led by roughly $107.7 million from ETHA. In addition, Jan. 7 showed about $98.3 million in net outflows, with withdrawals spread across several issuers, including ETHA and ETHE.
Ethereum falling wedge tightens as ETH holds near $3,123
Ethereum traded around $3,123 on Binance’s 1 hour ETHUSDT chart as price moved inside a marked falling wedge, a pattern that often appears after a steady slide. First, ETH dropped from the low $3,300s and then kept posting lower highs and lower lows. However, the decline narrowed as the two red trendlines converged, showing that selling pressure eased into the latest candles.
Ethereum Falling Wedge Chart. Source: James Wynn X
Next, the chart shows a rebound attempt from the wedge’s lower boundary near the $3,050–$3,060 area. After that bounce, ETH pushed back toward the mid $3,100s and approached the wedge’s upper trendline. At the same time, a horizontal reference near $3,166 stands out as a nearby level that aligns with prior reactions, so it marks an area where price has recently struggled to hold gains.
Meanwhile, the wedge structure sets clear decision points. If ETH breaks and holds above the upper trendline, the down channel would lose control and the chart’s annotated “Target” area near the low $3,300s would come back into view as the next major zone. Conversely, if ETH fails at the trendline and slips back through recent lows, the lower wedge boundary near the low $3,000s becomes the level to watch for another test.
Source: https://coinpaper.com/13656/black-rock-led-ethereum-etf-outflows-as-eth-tests-key-chart-pattern
