Ethereum Pushes Above $1.9K as ETF Outflows Surge — Can the Recovery Hold?

Ethereum has reclaimed the $1,900 level amid a broader market rally, climbing 5.48% in the past 24 hours to trade at $1,926.96. The recovery comes despite persistent ETF outflows and notable selling activity from major holders.

The second-largest cryptocurrency by market cap has posted a 3.08% decline over the past week. The monthly picture remains stark, with ETH down 33.49% from its $2,900–$3,000 close earlier in 2026.

The bounce coincided with a 3.29% rise in total crypto market capitalization. Correlations with the S&P 500 and Gold suggest macro-driven momentum rather than crypto-specific catalysts.

Ethereum ETF Outflows Continue as Whales Sell

Ethereum ETFs recorded net outflows of 2,311 ETH ($4.55 million) over the past 24 hours, according to Lookonchain data. The seven-day net outflow reached 108,385 ETH, valued at approximately $213.52 million.

Feb 25 Update:#Bitcoin ETFs:
1D NetFlow: +3,732 $BTC(+$247.72M)🟢
7D NetFlow: -2,285 $BTC(-$151.65M)🔴#Ethereum ETFs:
1D NetFlow: -2,311 $ETH(-$4.55M)🔴
7D NetFlow: -108,385 $ETH(-$213.52M)🔴#Solana ETFs:
1D NetFlow: +60,242 $SOL(+$5.12M)🟢
7D NetFlow: +293,324… pic.twitter.com/Y5WWyuQM5a

— Lookonchain (@lookonchain) February 25, 2026

Meanwhile, Ethereum co-founder Vitalik Buterin sold another 675.88 ETH worth $1.25 million in the past nine hours. His total sales over the past month amount to 11,422 ETH ($23.33 million).

Buterin’s planned sale of 16,384 ETH is now approximately 70% complete. Roughly 4,962 ETH ($9.5 million) remains to be sold.

vitalik.eth(@VitalikButerin) sold another 675.88 $ETH($1.25M) in the past 9 hours.

In the past month, he has sold 11,422 $ETH($23.33M) in total.

His plan was to sell 16,384 $ETH.

About 70% is done.

There are still 4,962 $ETH($9.5M) left to sell.https://t.co/pMvkZHjIyD pic.twitter.com/JgNY82yAhX

— Lookonchain (@lookonchain) February 25, 2026

Separately, Ethereum Treasury Company FG Nexus liquidated $14.06 million in ETH holdings. The firm originally purchased at $3,860 per token and sold near $1,900, crystallizing significant losses.

Macro Sentiment Drives Risk-On Ethereum’s Rally

Ethereum’s gain closely tracked rallies across traditional asset classes. The price action represented high-beta exposure to improving liquidity sentiment rather than independent bullish catalysts.

The Altcoin Season Index has risen to 36, suggesting gradual rotation toward altcoins. Bitcoin’s stability above key levels remains essential for sustained ETH strength.

Market observers note ETH recently retested the $1,750–$1,800 support zone before bouncing. The $2,000 psychological level now serves as the critical threshold for bulls.

Without reclaiming this level, analysts warn the recent pump could face complete retracement. A decisive break above $2,000 on increasing volume would confirm bullish momentum.

Ethereum Price Levels and Indicators

Ethereum trades within a defined bearish structure on the daily timeframe. The price sits below all major moving averages following a decline from the August 2025 peak near $4,100.

Bollinger Bands show the price recently touched the lower band at approximately $1,848. The middle band near $1,990 represents immediate resistance, coinciding with the $2,000 psychological barrier.

MACD readings remain in negative territory, though the histogram has turned positive. A bullish crossover appears imminent within one to three days if current momentum continues.

Volume analysis reveals a classic capitulation signature during the drop to $1,847. However, recovery volume remains modest compared to selling pressure, characteristic of short-covering rather than accumulation.

Key resistance levels include $1,990–$2,000, $2,130, and $2,400–$2,500. Support sits at $1,850–$1,880, followed by $1,800 and $1,700 if breakdown occurs.

The immediate outlook remains cautiously bullish within a range. A sustained close above $2,000 with expanding volume would confirm recovery, while a break below $1,850 invalidates the bullish case.