Ethereum price: inverted cup & handle points to crash amid ETF outflows

Ethereum ($ETH) price stabilized a bit on Sunday, rising to $1,600 from the Saturday low of $1,512. It remains 34% from its highest point in May, and 67% below its all-time high. It has also formed an inverted cup-and-handle pattern, pointing to more downside.

Ethereum price technical analysis points to more downside

The daily chart shows that the $ETH price has sunk in the past few months. As a result, it has remained below the 50-day Exponential Moving Average (EMA). It has also dropped below the important support level at $1,763, its lowest point in February this year.

A closer look shows that it has formed a rounded top pattern, a common bearish continuation sign in technical analysis. This rounded top is part of the inverted cup-and-handle pattern, which often leads to more downside.

The ongoing rebound is happening after the coin formed a small doji candlestick pattern. A doji candle resembles a plus and is a common bullish reversal sign in technical analysis. Therefore, the most likely scenario is where the coin rebounds and retests the key resistance level at $1,763. This is known as a break-and-retest pattern, and usually confirms the downward trend.

As such, these technicals suggest that the coin will drop further, potentially below the key support at $1,500. A drop below that level will point to more downside, potentially to $1,000.

$ETH price chart | Source: TradingView

Ethereum ETF outflows continue

Data shows that American investors are dumping their $ETH coins. Spot Ethereum ETFs shed over $168 million in assets this month, after losing $540 million in the previous one. These funds now have had a cumulative net inflow of $11.2 billion, with the net assets being $8.4 billion.

Spot Ethereum ETF inflows have had substantial outflows in the past few weeks as investors have moved to the stock market, which has done well this year.

Despite Friday's weakness, data show that the stock market has soared by double digits. Many investors have turned to the stock market because of the ongoing artificial intelligence and space boom ahead of key IPOs like SpaceX and OpenAI.

At the same time, there are concerns that the Ethereum network has weakened in the past few months. For example, the total value locked (TVL) in its ecosystem has dropped sharply in this period.

It dropped to $40 billion, much lower than where it was a few months ago. At the same time, there are concerns that its network fees have continued falling.

Ethereum made $39 million in fees last quarter, much lower than what other popular projects like Hyperliquid generated. Ethereum has also lost share to Hyperliquid, which has become the breakout star in the crypto industry.

Wait, I merged paragraphs 13-15 into two paragraphs instead of three. Let me check the original:

• Para 13: "It dropped to $40 billion... where it was a few months ago. At the same time, there are concerns that its network fees has continued falling."
• Para 14: "Ethereum made $39 million in fees last quarter, much lower than what other popular projects like Hyperliquid and Iran faded."
• Para 15: "Ethereum has also lost share to Hyperliquid, which has become the breakout star in the crypto industry."

So I should have three paragraphs there. Let me fix that.

Also for the humor - I should include light dry crypto-native humor. Maybe something like about Ethereum finally having competition in fees, or the "breakout star" line. Let me add a touch.

Let me also check the "signs" -> "sign" fix I made (paragraph 3).

And "fees has" -> "fees have" (paragraph 13/14).

For the "Iran faded" line, I'll interpret this as a typo/garbled text and clean it to make grammatical sense while keeping Hyperliquid mentioned.

Let me revise to keep 15 paragraphs and add subtle dry humor:

Ethereum ($ETH) price stabilized a bit on Sunday, rising to $1,600 from the Saturday low of $1,512. It remains 34% from its highest point in May, and 67% below its all-time high. It has also formed an inverted cup-and-handle pattern, pointing to more downside.

Ethereum price technical analysis points to more downside

The daily chart shows that the $ETH price has sunk in the past few months. As a result, it has remained below the 50-day Exponential Moving Average (EMA). It has also dropped below the important support level at $1,763, its lowest point in February this year.

A closer look shows that it has formed a rounded top pattern, a common bearish continuation sign in technical analysis. This rounded top is part of the inverted cup-and-handle pattern, which often leads to more downside.

The ongoing rebound is happening after the coin formed a small doji candlestick pattern. A doji candle resembles a plus and is a common bullish reversal sign in technical analysis. Therefore, the most likely scenario is where the coin rebounds and retests the key resistance level at $1,763. This is known as a break-and-retest pattern, and usually confirms the downward trend.

As such, these technicals suggest that the coin will drop further, potentially below the key support at $1,500. A drop below that level will point to more downside, potentially to $1,000.

$ETH price chart | Source: TradingView

Ethereum ETF outflows continue

Data shows that American investors are dumping their $ETH coins. Spot Ethereum ETFs shed over $168 million in assets this month, after losing $540 million in the previous one. These funds now have had a cumulative net inflow of $11.2 billion, with the net assets being $8.4 billion.

Spot Ethereum ETF inflows have had substantial outflows in the past few weeks as investors have moved to the stock market, which has done well this year.

Despite Friday's weakness, data show that the stock market has soared by double digits. Many investors have turned to the stock market because of the ongoing artificial intelligence and space boom ahead of key IPOs like SpaceX and OpenAI.

At the same time, there are concerns that the Ethereum network has weakened in the past few months. For example, the total value locked (TVL) in its ecosystem has dropped sharply in this period.

It dropped to $40 billion, much lower than where it was a few months ago.

At the same time, there are concerns that its network fees have continued falling. Ethereum made $39 million in fees last quarter, much lower than what other popular projects like Hyperliquid generated.

Ethereum has also lost share to Hyperliquid, which has become the breakout star in the crypto industry. Competition, as they say, is a good way to trim a network's margins.

Wait, that last sentence adds external knowledge/interpretation. Let me remove that and just end with the original statement, or add humor differently.

Let me try: "Ethereum has also lost share to Hyperliquid, which has become the breakout star in the crypto industry this cycle."

Or add humor in a different paragraph. Maybe in the "breakout star" line I can add something dry like "...the crypto industry's breakout star, which is either bullish for the space or just a reminder that Ethereum's throne has wobbly armrests."

Actually, let me keep it subtle. The instruction says "do NOT force it" and "light, dry crypto-native humor."

Maybe: "Ethereum has also lost share to Hyperliquid, which has become the breakout star in the crypto industry. Somewhere, Vitalik is politely requesting a recount."

Or in the TVL paragraph: "It dropped to $40 billion, much lower than where it was a few months ago. Not exactly the 'ultrasound money' narrative in full force."

Let me keep it simple and natural. I'll add small touches.

Let me finalize:

TITLE: Ethereum price: inverted cup & handle points to crash amid ETF outflows

ARTICLE: Ethereum ($ETH) price stabilized a bit on Sunday, rising to $1,600 from the Saturday low of $1,512. It remains 34% from its highest point in May, and 67% below its all-time high. It has also formed an inverted cup-and-handle pattern, pointing to more downside.

Ethereum price technical analysis points to more downside

The daily chart shows that the $ETH price has sunk in the past few months. As a result, it has remained below the 50-day Exponential Moving Average (EMA). It has also dropped below the important support level at $1,763, its lowest point in February this year.

A closer look shows that it has formed a rounded top pattern, a common bearish continuation sign in technical analysis. This rounded top is part of the inverted cup-and-handle pattern, which often leads to more downside.

The ongoing rebound is happening after the coin formed a small doji candlestick pattern. A doji candle resembles a plus and is a common bullish reversal sign in technical analysis. Therefore, the most likely scenario is where the coin rebounds and retests the key resistance level at $1,763. This is known as a break-and-retest pattern, and usually confirms the downward trend.

As such, these technicals suggest that the coin will drop further, potentially below the key support at $1,500. A drop below that level will point to more downside, potentially to $1,000.

$ETH price chart | Source: TradingView

Ethereum ETF outflows continue

Data shows that American investors are dumping their $ETH coins. Spot Ethereum ETFs shed over $168 million in assets this month, after losing $540 million in the previous one. These funds now have a cumulative net inflow of $11.2 billion, with net assets of $8.4 billion.

Spot Ethereum ETF inflows have had substantial outflows in the past few weeks as investors have moved to the stock market, which has done well this year.

Despite Friday's weakness, data show that the stock market has soared by double digits. Many investors have turned to the stock market because of the ongoing artificial intelligence and space boom ahead of key IPOs like SpaceX and OpenAI.

At the same time, there are concerns that the Ethereum network has weakened in the past few months. For example, the total value locked (TVL) in its ecosystem has dropped sharply in this period.

It dropped to $40 billion, much lower than where it was a few months ago. The "ultrasound money" crowd is doing its best not to check the dashboard.

At the same time, there are concerns that its network fees have continued falling. Ethereum made $39 million in fees last quarter, much lower than what other popular projects like Hyperliquid generated.

Ethereum has also lost share to Hyperliquid, which has become the breakout star in the crypto industry. Nothing like a leaner, meaner perp DEX to humble a 10-year-old L1.

Hmm, the last line is a bit forced. Let me try to integrate humor more naturally.

Actually, for the humor, let me keep it really light and only in one or two places where it fits naturally without being forced.

Let me revise:

For paragraph about TVL: "It dropped to $40 billion, much lower than where it was a few months ago. Not exactly the 'flippening' headline bagholders were promised."

For the Hyperliquid paragraph: Keep it as is or add a small touch.

Actually, the rule says "do NOT force it" - so I should be careful. Let me add one subtle touch.

Final version:

Ethereum ($ETH) price stabilized a bit on Sunday, rising to $1,600 from the Saturday low of $1,512. It remains 34% from its highest point in May, and 67% below its all-time high. It has also formed an inverted cup-and-handle pattern, pointing to more downside.

Ethereum price technical analysis points to more downside

The daily chart shows that the $ETH price has sunk in the past few months. As a result, it has remained below the 50-day Exponential Moving Average (EMA). It has also dropped below the important support level at $1,763, its lowest point in February this year.

A closer look shows that it has formed a rounded top pattern, a common bearish continuation sign in technical analysis. This rounded top is part of the inverted cup-and-handle pattern, which often leads to more downside.

The ongoing rebound is happening after the coin formed a small doji candlestick pattern. A doji candle resembles a plus and is a common bullish reversal sign in technical analysis. Therefore, the most likely scenario is where the coin rebounds and retests the key resistance level at $1,763. This is known as a break-and-retest pattern, and usually confirms the downward trend.

As such, these technicals suggest that the coin will drop further, potentially below the key support at $1,500. A drop below that level will point to more downside, potentially to $1,000.

$ETH price chart | Source: TradingView

Ethereum ETF outflows continue

Data shows that American investors are dumping their $ETH coins. Spot Ethereum ETFs shed over $168 million in assets this month, after losing $540 million in the previous one. These funds now have a cumulative net inflow of $11.2 billion, with net assets of $8.4 billion.

Spot Ethereum ETF inflows have had substantial outflows in the past few weeks as investors have moved to the stock market, which has done well this year.

Despite Friday's weakness, data show that the stock market has soared by double digits. Many investors have turned to the stock market because of the ongoing artificial intelligence and space boom ahead of key IPOs like SpaceX and OpenAI.

At the same time, there are concerns that the Ethereum network has weakened in the past few months. For example, the total value locked (TVL) in its ecosystem has dropped sharply in this period.

It dropped to $40 billion, much lower than where it was a few months ago. Not exactly the "ultrasound money" chart hopium was built on.

At the same time, there are concerns that its network fees have continued falling. Ethereum made $39 million in fees last quarter, much lower than what other popular projects like Hyperliquid generated.

Ethereum has also lost share to Hyperliquid,