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Ether (ETH) is trading at $1,639.20 on June 10, up 0.02% on the day, as per TradingView data. The price is holding above the $1,550-$1,600 support band visible on the daily chart, the structural floor that absorbed the June 4-7 sell-off and produced the week’s low near $1,520.
The $30.40 session range is among the tightest of the current decline, indicating price compression rather than continuation. Two data sets published this week reframe what happened during that sell-off.
Between June 4 and June 7, CryptoQuant data shows exchange reserves across Binance, OKX, Gemini, and Bitfinex declined by a combined 475,000 ETH. Binance reserves fell to 3.68 million ETH from 3.87 million, shedding around 190,000 ETH. Bitfinex shed 180,000 ETH, declining to 2.49 million ETH from 2.67 million. OKX and Gemini accounted for the remaining 105,000 ETH.
The synchronization across four venues during the exact window when ETH tested its lowest levels is the signal worth isolating. A single exchange reducing reserves during a price drop is operationally unremarkable. Four exchanges declining simultaneously, with material volume at each, is a different order of event. While a decline in exchange supply can reduce immediate selling pressure, a genuine price recovery still requires a concurrent increase in spot demand.
Two onchain noise events complicated the picture:
ppl do crazy stuff just to farm elon bucks
like this clown who claimed vitalik dumped 110K $ETH, complete with a theory of his own (even slapped vitalik pic on the wallet address)
when in reality it was ethereum co-founder joseph who supplied that ETH to adjust his liquidation… pic.twitter.com/ND7rlry8SX
— Naeven (@Naeven_0) June 8, 2026
Neither event represented net selling pressure, but both added narrative friction to a market already under technical stress.
US spot Ether exchange-traded funds (ETFs) recorded $19.3 million in net inflows on June 5, ending a 17-consecutive-day outflow streak, the longest on record since the products launched in 2024, as per SoSoValue data. The inflow came entirely from BlackRock’s ETHA, which added approximately 10,870 ETH.
The follow-through on June 8 was more substantive. US spot Ether ETFs pulled in $82.37 million in net inflows on the same session that US spot Bitcoin (BTC) ETFs recorded $91.37 million in net outflows. The near-mirror of those two numbers points to a deliberate institutional reallocation between the two largest crypto ETF categories at a moment when ETH trades near a three-year relative low against BTC.
Total Ether ETF assets under management stand at $9.13 billion, with cumulative net inflows since the 2024 launch at $11.24 billion.
The daily ETH/USD chart and technical data from TradingView show every major moving average (MA) above the current price.
The full MA stack: 10-day exponential moving average (EMA) ($1,777.15), 10-day simple moving average (SMA) ($1,800.74), 20 EMA ($1,897.72), 20 SMA ($1,938.29), 30 EMA ($1,974.10), 30 SMA ($2,035.46), 50 EMA ($2,058.21), 50 SMA ($2,148.77), 100 EMA ($2,188.92), 100 SMA ($2,142.40), 200 EMA ($2,441.43), 200 SMA ($2,444.47). The Ichimoku Base Line sits at $1,911.88. The Hull MA at $1,571.74 is the only average below the current price, 4.1% below the June 10 close.
The relative strength index (RSI) reads 29.30, in oversold territory for the sixth consecutive session. The average directional index (ADX) reads 49.54, confirming dominant trend momentum in force. The moving average convergence/divergence (MACD) sits at -141.86, below the signal line.
Immediate support sits at the session low of $1,615.48, then the Hull MA at $1,571.74, and the $1,550-$1,600 chart band. The 10 EMA at $1,777.15 is the first level to reclaim on the upside.
Four exchanges shed 475,000 ETH simultaneously at the June lows. BlackRock absorbed the entire $19.3-million-ETF inflow on June 5 unassisted. The June 8 session saw $82.37 million in ETH ETF inflows, while Bitcoin ETFs bled $91.37 million. None of that has materially moved the price yet. Spot demand needs to confirm what the outflow data implies.
Ethereum’s Glamsterdam upgrade remains the nearest protocol catalyst with no confirmed date as of June 10. Until then, the Hull MA at $1,571.74 and the $1,550-$1,600 support band determine whether the accumulation visible in the onchain data holds or breaks down.
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