Ethereum price analysis: ETH steadies near $1,570 as whales test support

Ethereum is trading near the $1,570 to $1,580 area after a calm weekend that failed to ease the pressure on the second-largest cryptocurrency. 

The price has stayed mostly range-bound, even as new tension in the Middle East tested risk appetite across global markets.

The calm move does not mean the market has turned strong. ETH remains below the $1,800 level that many traders see as a key recovery zone. The asset is also under pressure from ETF outflows, whale selling, and weak spot demand.

ETF outflows weigh on Ethereum sentiment

U.S. spot Bitcoin and Ethereum ETFs recorded their seventh straight day of outflows on June 26, according to SoSoValue data. Spot Bitcoin ETFs saw about $445 million in net outflows, while spot Ethereum ETFs posted $12.848 million in net outflows.

The Ethereum outflow was smaller than Bitcoin’s, but the streak matters because ETFs can act as a source of steady spot demand. When flows stay negative for several days, that support weakens. This can make it harder for ETH to recover when traders are already cautious.

Earlier Ethereum ETF coverage showed that ETH had already been testing major support as fund withdrawals mounted. That pressure has continued into late June, keeping the market focused on whether institutional demand can return.

Another price analysis noted that ETH traded near $1,600 even after BitMine reportedly bought another 75,000 ETH. That showed that large purchases have not been enough to reverse the wider downtrend.

Whales sell into weak support

Analyst Ali Martinez said large holders sold about 550,000 ETH over the past week. At current prices, that sale equals roughly $880 million in fresh supply hitting the market.

The analyst said this selling helped push Ethereum below its immediate $1,633 support level. ETH is now testing volume support near $1,583, a level traders are watching closely because a clean break could open the way for deeper losses.

Ali said if selling continues into next week, the next high-volume demand areas could sit near $1,237 and $1,089. These levels are not guaranteed targets, but they show where past trading activity may attract buyers if ETH breaks lower.

This pressure matches the current chart structure. ETH continues to print lower highs, and buyers have not yet shown enough strength to reclaim the $1,800 area.

Analysts split on ETH’s next move

Money Ape warned that Ethereum could post three straight red quarters for the first time. The analyst said ETH may fall below $1,000 if market confidence keeps weakening.

That view reflects the bearish side of the current setup. Ethereum has failed to recover quickly from its slide, and traders remain worried about ETF outflows, whale activity, and weak momentum.

Michaël van de Poppe offered a different view. He said anything below $1,800 is not attractive for day trading but may be a strong opportunity for longer-term accumulation.

He also said ETH may be forming a bullish divergence across several timeframes. In his view, a clear break above $1,800 would be more useful than trying to catch every small move inside the current downtrend.

Van de Poppe also pointed to lower levels near $1,505 and $1,385 as possible buying zones if ETH sweeps liquidity. He said he doubts the market is eager to move much lower, but he still wants to see a clean recovery above $1,800.

Derivatives data shows sellers still in control

CryptoQuant analyst PelinayPA said Ethereum’s taker buy/sell ratio on Binance remains above 1. That usually points to stronger buying activity, but ETH has not reacted with a strong recovery.

The analyst said this muted response suggests larger sellers may be absorbing buy orders. In simple terms, buyers are active, but they are not strong enough to push the price higher.

The same report said Ethereum’s fund price has been falling since April. That suggests traders are reducing long exposure in derivatives markets and taking less risk.

This creates a weak setup for ETH. Even when buying activity rises, price action remains soft. That can happen when whales use short rallies to sell into demand.

The analyst said ETH still forms lower highs while fresh lows keep developing. That confirms the broader bearish structure remains in place until Ethereum breaks its current downtrend.

Ethereum price outlook

Ethereum’s near-term outlook now depends on the $1,583 support area. If buyers defend this zone, ETH could attempt another move toward $1,633 and then $1,800.

A clean break above $1,800 would be the first stronger sign that bulls are regaining control. It could also shift attention back toward higher resistance zones after weeks of weak trading.

If ETH loses $1,583, traders may look toward $1,505 and $1,385. A deeper sell-off could bring the $1,237 and $1,089 demand zones into focus if whale selling continues.

For now, Ethereum is stable but not strong. The price is calm near $1,570, yet ETF outflows, whale distribution, and weak derivatives demand keep the risk tilted toward another test of lower support.