Ethereum ETFs See Outflows, $6,000 Target Loom Amid Market Uncertainty

Recent Ethereum ETF outflows reached $197 million, the second largest in history, signaling a shift in investor sentiment. While the asset remains above $4,200, significant resistance at the $4,700 mark is hindering its climb. Analysts attribute this resistance to a cautious market outlook and point to potential for Ethereum’s price to rise towards $6,000 based on Wyckoff’s market cycle analysis. However, past performance indicates resistance around $4,700 could present obstacles to short-term gains.