Ethereum Price Risks $2,400 Breakdown After $320M ETF Outflows

Key Insights: Ethereum price hovered near $2,417 as sellers threatened the critical $2,400 support level. U.S. spot Ethereum ETFs recorded approximately $320 million in weekly net outflows, raising demand concerns. A breakdown below $2,400 could expose $2,391 and $2,382, while $2,427 remains immediate resistance. Ethereum price traded near $2,417 on Oct. 18 after U.S. spot ether exchange-traded funds lost approximately $320 million last week. The withdrawals coincided with renewed pressure around the $2,400 support level, despite a modest weekend recovery. A TradingView chart using Bitstamp prices showed ether at $2,416.70 at 11:17 UTC. The one-hour candles remained below several recent rebound highs, leaving buyers facing resistance around $2,427. Ethereum price performance also showed several failed recovery attempts in the preceding sessions.

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