Ethereum Slides Toward Key Moving Averages as Oil and Yields Rise
Ether fell toward $2,420 as surging crude oil prices and rising US Treasury yields overshadowed positive ETF capital flows.
Ether dropped nearly 4% over a 24-hour window, declining from an intraday high of $2,512 to test lows around $2,405 before stabilizing near $2,420. The pullback occurred against a challenging macroeconomic backdrop, as Brent crude topped $105 per barrel and the US 10-year Treasury yield rose toward 4.9% amid Middle East tensions.
The decline took place despite positive net flows into US spot Ethereum funds, which absorbed roughly $34.75 million on September 10, led by $22.94 million into BlackRock's ETHB and $9.71 million into ETHA. These inflows followed a modest $2.1 million positive print the previous day.
On the daily chart, Ether continues to trade above its 20-day, 50-day, 100-day, and 200-day exponential moving averages. The 20-day EMA near $2,404 represents the closest technical benchmark following the recent rally to $2,564.
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