Ethereum filters core calculates right triangle height, ETH checks support zone $1,900 amid withdrawal pressure from ETF funds

Ethereum is currently trading at $2,360, up 16.23% over the past 7 days, but this recovery has not yet erased concerns about selling pressure from institutional investors. Last weekend, ETH tested the psychological support zone of $1,900 after dropping from $2,150. This movement reflects a conflict between long-term optimism about upcoming network upgrades and negative signals from ETF fund flows in recent weeks.

ETF Capital Flows Reversal: Spot Ethereum Funds Experience Large Withdrawals

According to data from SoSoValue, spot Ethereum ETFs saw a net outflow of $129 million in early February, marking one of the largest single-day withdrawals since these products launched. Notably, Fidelity’s FETH led with $67.99 million sold, while BlackRock’s ETHA and Grayscale’s ETH products recorded smaller withdrawals.

Total net assets now stand at $11.27 billion, representing 4.78% of Ethereum’s market cap. Although net inflows still total $11.75 billion, the recent surge in withdrawals indicates a more complex picture. Institutional investors are gradually pulling back rather than accumulating at lower prices. When ETF flows shift from positive to negative, it often accompanies strong selling pressure, explaining Ethereum’s dip below $2,000.

Narrow Symmetrical Triangle: ETH Price Structure and Expected Highs and Lows

On the hourly chart, Ethereum is trapped within a symmetrical triangle with height compressed between $1,900 (support) and $2,100 (resistance). The significance of this triangle’s height is crucial: when the pattern resolves, price movement typically reaches or exceeds the triangle’s height before the compression occurs.

With the current triangle height around $200 (from $1,900 to $2,100), a clear breakout in either direction could trigger significant volatility. A break above $2,100 targets $2,300 next. Conversely, a break below $1,900 points to the next support at $1,750, with potential extension down to $1,595 if selling pressure intensifies.

Multi-Timeframe Analysis: From Daily to Hourly Charts

On the daily chart, Ethereum has broken below all key moving averages. The 20-day EMA is at $2,388, the 50-day EMA at $3,182, and the 100-day EMA at $3,003. The Supertrend indicator signals a downtrend at $2,472, confirming a clear bearish trend. Price is currently testing the Bollinger Bands at $1,595, indicating deeper declines if support at $1,900 fails.

Ethereum lost the 20-day EMA at the end of January and has failed to regain it. The structure has shifted from accumulation to breakdown, entering a correction phase. However, a sign of trend exhaustion would appear if ETH can close above $2,388 on a daily basis with increased volume.

On the 1-hour chart, the Parabolic SAR is at $1,986, acting as immediate resistance. The RSI remains neutral at 54.36 but shows signs of recovery after reaching oversold levels. Support levels are at $1,900 and $1,830 (the latest low), indicating buyers are trying to defend this zone after a sharp drop from $2,150.

Glamsterdam and Hegota: Upgrades That Could Transform Ethereum in 2026

Beyond short-term price pressures, Ethereum is approaching a major technical upgrade. Glamsterdam is expected to launch in the first half of 2026, introducing Proposer-Builder Separation and Block-Level Access Lists to improve MEV fairness and censorship resistance.

The Hegota upgrade will follow at the end of 2026, implementing Verkle Trees technology to enhance state access and network scalability. Developers are currently testing on blob-devnet-0 to enable mainnet to store more blobs, although some clients like Prysm and Lighthouse are facing integration issues.

These upgrades represent significant technical improvements, but the market has yet to reflect their impact on price. Current selling pressure reflects short-term concerns rather than long-term expectations. If ETF flows stabilize as upgrades progress, the upgrade story could become a catalyst supporting prices in the coming months.

Two Trading Scenarios: Breakout or Drop?

Bullish Scenario: A close above $2,000 with increased volume combined with improved ETF flows could reverse the triangle pattern and bring resistance at $2,150 back into play. Reclaiming $2,388 would confirm trend exhaustion, opening the door for a sustained recovery toward $3,000.

Bearish Scenario: A break below $1,900 would confirm continuation of the downtrend and immediately target $1,750. The risk of deeper decline to $1,595 remains if selling pressure intensifies. Losing the $1,900 zone would mark a new multi-month low for Ethereum.

The next move depends on two factors: whether ETH can hold above $1,900 and whether ETF capital flows stabilize or continue to exit. Trading communities are waiting for a clear signal from this triangle’s height to determine the market’s next direction.