Ethereum Remains Resilient Despite Institutional Selling
Ethereum has gone through a period of consolidation in recent days, remaining relatively stable despite market corrections. The asset is trading below crucial resistance levels as investors weigh both bullish technical prospects and significant institutional outflows.
The overall sentiment is divided between those anticipating an upward breakout and those concerned about institutional selling pressure. On one hand, analysts identify a “bullish flag pattern” on Ethereum’s chart, suggesting a continuation of the rally beyond $5,500. On the other hand, BlackRock’s sale of $254 million worth of ETH is temporarily weighing on market sentiment.
A Correction Before New Highs?
Although BlackRock’s Ethereum sale has raised concerns, the asset has demonstrated impressive resilience by maintaining higher lows. This ability to preserve a favorable technical structure despite massive institutional outflows strengthens investor confidence in Ethereum‘s long-term growth trajectory.
Nevertheless, Ethereum is not immune to a correction as the September interest rate announcement could cool the altcoin market.
Indeed, before reaching new highs, ETH could liquidate long positions between $3,600 and $3,200 in the coming weeks.
The bearish divergence on the daily RSI also provides a bearish indicator in this direction. ETH is trapped between two trendlines, one at $4,790 to the north and another at $3,907 to the south. These two key levels are worth monitoring to determine the trend.
The next support level is at $3,660 if the $3,900 level is lost.
Although BlackRock’s sale of $254 million worth of ETH has temporarily weighed on market sentiment, Ethereum has maintained a solid technical structure that supports bullish long-term prospects. Analysts identify a very promising chart pattern, suggesting significant upside potential beyond $5,500 despite institutional outflows. However, the token could also undergo a correction before seeking new highs.
How to Buy Ethereum on Bybit
In any case, Ethereum is expected to reach $5,500 before the end of the year, offering gains of nearly 30% from its current price.
- Sign up on Bybit
Visit the official Bybit website or download the mobile app. Create an account with an email address and secure password. Verify your registration via the link sent by email and complete KYC verification if necessary. - Deposit funds
Log in and access the “Deposit” section. Deposit cryptocurrencies (such as USDT) or fiat currencies via bank card or wire transfer, depending on the options available in your region. - Access the spot market
Go to the “Trading” tab and select the spot market. Search for the ETH/USDT pair or another pair corresponding to your funds. - Place a buy order
Choose a market order to buy immediately at the current price or a limit order to set a target price. Indicate the amount of Ethereum to buy and confirm.
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