The Ether factory has stabilized in the vicinity of $1600, but the rebound base is still weak. The continuous outflows of FETF, the relatively weak indicators of strength and weakness, together with some large households selling and leveraging, have kept the market cautious about further progress.

By the time of the release, ETH had fallen by about 0.93 per cent over the past 24 hours and by about 4.63 per cent over the past seven days. Between $1557.87 and $1677.86 at that date, the value of the deal was approximately $15.42 billion, with a total market value of approximately 1995.5 billion.

ETF continues to outrun demand.

SoSoValue data show that on June 24, the U.S. F.E.E.L.E.F. net outflow of US$ 30.24 million resulted in the withdrawal of funds on the fifth consecutive trading day. Of which, Fidelity was the top product of the FETH outflow of $15.6897 million that day.

Current ETF flows are often seen as a direct reflection of the need for regulated funds. If the product continues to bleed during the price fall, the spot market will need to take over more sales pressure and the rebound will be more difficult to achieve continuity. The current withdrawal is not complete, but demand is clearly uneven and the market is still awaiting a return to stable inflows.

The whale buys and sells together with the old address.

The data on the chain reflect a more pronounced division. Lookonchain states that 17,675 ETHs have been removed from the coin Ant for a newly created wallet, with an approximate value of US$ 2,858,000 at current prices, which is considered to be a low absorption signal.

On the other side, however, Onchain Lens stated that the 7-year-old purse address 0x096 sold 27,585 ETHs in exchange for approximately $44.84 million in US$ 1625. After this deal, the address achieved a profit of approximately $39.1 million.

The leverage position is also magnifying fluctuations. Onchain Lens states that Machi's 25 times more than ETH was fully liquidated, with a loss of approximately $1.9 million, and then a new 25 times more. Its accumulated losses exceeded $35.4 million.

$1,800 is still a key resistance.

In terms of movement, the ETH dayline is still within a larger lower range, with prices falling behind from 2300 to $2,400, and currently mainly in the area of 1,600 to $1700. The market generally sees US$ 1750 and US$ 1800 as short-wire resistance, and if the pressure is re-enhanced, the US$ 1580 may still be tested again.

Technical indicators also do not give a clear signal of a shift. RSI is approximately 38.34, slightly below its moving average of 38.79 and is still below 50, indicating that the buyer has not regained control of the initiative. Aroon Oscillator -64.29, shows that the recent lows are still more dominant than the highs.

The MAD movement has improved slightly, the column chart has been slightly positive, and the MCD line has been raised to the signal line, but the two lines remain below the zero axis, indicating that the rebound has not been confirmed at a higher level. According to CriptoQuant Analyst CriptoOnchain, the Ether is still in a state of defence near $1600, and the model has reduced market openings to 15 per cent, but the probability of increasing conversion to 45 per cent.

Overall, ETH short-lines show signs of stability, but if $1700 and further $1,800 are not effectively on the line, the market will still have difficulty getting out of the concussion pattern.