Ethereum exchange trading funds ( ETF ) are facing significant selling pressure, with approximately $1.07 billion in net outflows over the past 30 days.

At a time of large-scale withdrawal of institutional funds, ETH is also striving to hold onto the key technical support levels, which has raised questions in the market about whether new investments can reverse this negative trend.

According to the statistics from SoSoValue, the 11 tracked US spot Ethereum ETF tokens, although weak recently, still have a historical net inflow of approximately $12.56 billion.

At the same time, the total net assets of these ETF amount to approximately $14.53 billion, which is equivalent to 5.11% of Ethereum's total market value.

Although the scale of a single-day shift to net inflow is relatively limited compared to the $1.07 billion that flowed out in the previous 30 days, this positive data may indicate preliminary signs of an improving sentiment.

However, the capital inflow on a single trading day is not sufficient to confirm a substantial reversal in institutional positions.

The price performance of ETH reflects the uncertainty surrounding the flow of funds related to ETF. According to data from TradingView on October 26th, the trading price of ETH was around $2332.98, which is a significant decline from the recent high of nearly $2800.

This cryptocurrency has fallen below several key moving averages, indicating that bearish pressure remains strong.

Of particular note is that Ethereum is currently near the long-term moving average of around $2,300, which could become a decisive technical support level. If it continues to fall below this level, ETH could further decline to $2,200.

On the contrary, if it retests the resistance range of $2,450 to $2,500, it may strengthen the rationale for a larger-scale rebound.

Ultimately, the main trend of Ethereum in the next step may also depend to some extent on whether institutional investors return to spot ETF.