$ETH fell more than 8% today, November 6, approaching $2,200 amid a wave of liquidations in the market.

The decline coincided with $99.9 million flowing out of spot Ethereum ETFs, putting direct selling pressure on the asset.

Weak technical indicators add to the pressure, making buyers more cautious at current support levels.

There is still no confirmed signal that the liquidation wave has ended. Available data point to pressure but do not precisely determine the price’s direction.

If outflows continue, it may test $ETH lower levels; but if sell-offs stop, the market may seek stability above $2,200.

Watch spot ETH ETF flows; today, they’re one of the clearest indicators of selling pressure.

Do you see $2,200 as a buying opportunity or the start of a further decline? 👇

#ETH #ETF

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