Ethereum ETFs Bleed for a Fourth Week as ETH Slips Below Its 100-Day Average

October 27, 2026 MM Crypto Team

Ethereum ETF Outflows Stretch Into a Fourth Week

Ethereum is ending October on a weak note. Outflows from United States spot Ethereum exchange-traded funds continued for a fourth consecutive week, although the pace of selling slowed to 220.6 million dollars for the week, according to FXStreet. The figure tells two stories at once: institutional investors are still pulling money out of Ethereum funds, but the slower pace of withdrawals suggests the heaviest selling may already be behind the market. Four weeks of net redemptions is a long stretch for a product class that was supposed to open Ethereum up to mainstream portfolios, and it has coincided with a steady slide in the price of ether itself. The combination of fund outflows and falling prices has put Ethereum on the defensive, and traders are now watching whether ether can find a floor or whether the decline has further to run. The mood has shifted from the optimism that followed the launch of spot Ethereum ETFs, and the market is testing holders who expected institutional demand to provide steady support. For now, the flows are moving in the wrong direction, and that remains the single most important headwind for the price.

ETH Price Action: Four Weeks of Declines

Ethereum has now fallen for four straight weeks, and the damage is visible across every major timeframe. On the daily chart for October 26, 2026, ether traded at 2,299.89 dollars, a level that places it well below the short-term averages that traders use to judge the health of a trend. The decline has been orderly rather than panicked, which suggests steady distribution rather than a single event that can be quickly reversed. Week after week, sellers have been willing to part with ether at lower prices, and buyers have not stepped in with enough conviction to halt the slide. The pattern is familiar to anyone who has watched crypto markets through a correction: each attempted recovery runs into resistance, fails, and is followed by a fresh leg lower. The four-week losing streak has also changed the conversation around Ethereum, shifting it from questions about when the next rally will begin to questions about where the bottom might be. Bottoms tend to form when pessimism is at its peak, not while it is still building. For now, the trend remains down, and every major technical indicator points the same way.

Reading the Moving Averages

The moving averages tell the story of Ethereum’s decline with unusual clarity. On October 26, the 20-day simple moving average stood at 2,433.5 dollars, the 50-day average at 2,538.9 dollars, the 100-day average at 2,321.0 dollars, and the 200-day average at 2,157.9 dollars. Ether’s price of 2,299.89 dollars sits below the 20-day, 50-day and 100-day averages, and above only the 200-day average. That configuration is the textbook definition of a downtrend on the daily chart. The short-term averages are all stacked above the price, which means every recent buyer is, on average, sitting on a loss, and every bounce toward those averages is likely to meet sellers looking to exit at breakeven. The 100-day average at 2,321 dollars is the most important near-term level, because ether has now slipped slightly below it. The 200-day average at 2,157.9 dollars is the last major line of defence for the long-term trend. Ether still trades 6.6 percent above that level, which means the long-term uptrend has not yet been broken, but the cushion is thinning. If the price continues to drift lower, the gap between the current price and the 200-day average will keep narrowing, and the market will start to treat a test of that level as a matter of when, not if.

RSI Nears Oversold Territory

The relative strength index, or RSI, is one of the most widely watched momentum indicators in crypto trading, and for Ethereum it is now flashing a warning that the selling may be overextended. The 14-day RSI stood at 32.1 on October 26, which is close to the 30 level that traders traditionally regard as oversold. An RSI reading near 30 does not guarantee a bounce, but it does tell us that the pace of the decline has been unusually fast relative to the size of recent gains, and that the market is primed for at least a short-term recovery if buyers decide to step in. History shows that oversold readings in ether often precede sharp relief rallies, even within a broader downtrend, because short sellers begin to take profits and bargain hunters emerge. However, the RSI alone is not a buy signal. In strong downtrends, an asset can remain oversold for longer than most traders expect, and a bounce from oversold levels can fail quickly if the underlying selling pressure has not actually lifted. The current reading therefore suggests that a short-term bounce is possible, but there is no sign of a trend reversal yet. Traders should treat any rally from here as a relief move inside a downtrend until ether can reclaim the levels that matter, starting with the 100-day average.

The Glamsterdam Delay and EIP-8037

Fundamental news has not helped Ethereum’s cause either. On October 22, the Ethereum Foundation called off the activation of the Glamsterdam upgrade on the Hoodi testnet, which had been scheduled for October 26. Developers are examining how EIP-8037, a new pricing rule for state creation, affects smart contracts that are already running on mainnet. No new date has been set for the upgrade, and the delay has removed a near-term catalyst that some traders had been counting on. Network upgrades matter for ether because they shape the narrative around the platform’s development and its ability to scale, and a delay, even a technical one, tends to weigh on sentiment at a time when the price is already falling. The issue at the heart of the delay is genuinely complex: changing how the network prices the creation of new state could have unintended consequences for existing contracts, and the developers are right to be cautious. But markets do not reward caution in the short term, and the absence of a new timeline leaves a vacuum that sellers have been happy to fill. The Glamsterdam delay is not the cause of the four-week decline, but it has removed one of the few reasons buyers had to step in and defend the price.

Key Levels Traders Are Watching

The technical picture for Ethereum now comes down to a handful of clearly defined levels. Resistance sits first at 2,321 dollars, the 100-day simple moving average, and then at 2,433 dollars, the 20-day average. Ether needs to close back above the 100-day average before buyers can realistically target the 20-day average, and until that happens, every rally should be treated with suspicion. The most likely scenario in the near term is consolidation between 2,160 and 2,430 dollars while ETF flows remain negative, with the lower bound set by the 200-day average and the upper bound set by the 20-day average. That range is wide enough to allow for sharp moves in both directions, and traders should expect volatility rather than a smooth drift. The invalidation level for the longer-term bullish case is clear: a daily close below the 200-day average at 2,158 dollars would signal that the long-term trend has turned down, and that would open the door to a much deeper correction. An earlier invalidation scenario has already played out, with a daily close below 2,400 dollars confirming that the short-term structure had broken. With that level now behind the market, the focus shifts to whether the 200-day average can hold.

What Comes Next for Ethereum

Ethereum’s immediate future depends on two things: whether ETF outflows slow further or reverse, and whether the price can hold above its 200-day moving average. The slowing pace of outflows, down to 220.6 million dollars for the week, is a small positive, but four consecutive weeks of redemptions still represent a significant withdrawal of institutional capital. If the outflows continue, even at a slower pace, they will keep acting as a drag on the price, because every dollar that leaves an ETF must be matched by a sale of ether in the spot market. On the other hand, if the outflows dry up entirely, the selling pressure will ease and the oversold RSI reading could finally produce the bounce that traders have been waiting for. The Glamsterdam delay adds uncertainty, but it is a temporary issue, and the developers will eventually set a new date. The bigger question is whether Ethereum can rebuild the momentum it lost over the past month. For now, the market is in a holding pattern, consolidating between well-defined levels and waiting for a catalyst. Until ether reclaims its 100-day average, the path of least resistance remains lower, and traders should manage risk accordingly while watching the ETF flow data for the first sign of a turn.

FAQ

Why are Ethereum ETFs seeing outflows for a fourth week? Outflows from US spot Ethereum ETFs continued for a fourth consecutive week, slowing to 220.6 million dollars, as institutional investors reduced exposure while ether’s price declined.

What is Ethereum’s price and where are its key moving averages? On October 26, 2026, ETH traded at 2,299.89 dollars, below its 20-day average of 2,433.5 dollars, its 50-day average of 2,538.9 dollars and its 100-day average of 2,321.0 dollars, but 6.6 percent above its 200-day average of 2,157.9 dollars.

What does an RSI of 32.1 mean for ETH? An RSI of 32.1 is close to the oversold threshold of 30, which means a short-term bounce is possible, but it does not signal a trend reversal on its own.

Why was the Glamsterdam upgrade delayed? The Ethereum Foundation called off the October 26 Hoodi testnet activation on October 22 so developers could examine how EIP-8037, a new pricing rule for state creation, affects smart contracts already running on mainnet, and no new date has been set.

What level would confirm a long-term downtrend for Ethereum? A daily close below the 200-day simple moving average at 2,158 dollars would signal that the long-term trend has turned down.

Source: Pintu Academy

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