Latest EthereumPoW (ETHW) Price Analysis

Deep Dive

1. ETF Outflows (Bearish Impact)

Overview:
ETHW-related ETFs saw $22.3M in outflows on September 23 (Decrypt), part of a broader $76M exit from Ethereum products. This follows a $40.3M outflow from Bitwise’s ETHW ETF on August 1 (CoinMarketCap).

What this means:
ETF redemptions force issuers to sell ETHW holdings, increasing sell-side pressure. The trend reflects fading institutional confidence in ETHW’s short-term prospects compared to Bitcoin or Ethereum’s PoS chain.

2. Altcoin Sentiment Shift (Mixed Impact)

Overview:
The Altcoin Season Index fell 11.29% last week, while Bitcoin dominance rose to 58.36%. ETHW’s 24h volume surged 32% to $13.8M, suggesting panic selling outpaced buying.

What this means:
Investors are de-risking from smaller altcoins like ETHW amid macroeconomic uncertainty. ETHW’s 30-day correlation with Bitcoin is 0.84, so BTC’s -2.68% drop amplified ETHW’s decline.

3. Technical Breakdown (Bearish Impact)

Overview:
ETHW broke below its 30-day SMA ($1.50) and 200-day EMA ($1.78). The RSI (41.33) shows no oversold signal, leaving room for further downside.

What this means:
Traders are targeting the $1.30 Fibonacci support level. A close below $1.30 could trigger a 15% drop toward the 2024 low of $1.10.

Conclusion

ETHW’s decline stems from ETF-driven sell pressure, risk-off altcoin sentiment, and technical breakdowns. While the RSI suggests limited downside, the lack of bullish catalysts keeps bears in control.

Key watch: Can ETHW hold the $1.30 support, or will Bitcoin’s dominance surge trigger another leg down?

Deep Dive

1. ETF Speculation Resurgence (Bullish Impact)

Overview: ETHW gained attention in a June 9, 2025 analysis as a potential ETF candidate due to its role preserving Ethereum’s original PoW architecture. While no formal filings exist, traders appear pricing in this narrative.

What this means:
- ETF speculation often triggers short-term rallies in low-cap assets like ETHW ($161M market cap).
- Bitwise’s ETHW ETF saw $24.79M inflows on August 7, 2025 (source), creating historical precedent for institutional interest.

What to look out for: SEC comments on altcoin ETF eligibility or issuer activity.

2. Technical Breakout (Mixed Impact)

Overview: ETHW broke above its 7-day SMA ($1.44) and 30-day SMA ($1.51), with RSI14 at 45.85 – neutral but recovering from oversold levels.

What this means:
- MACD histogram turned positive (+0.0127), signaling bullish momentum.
- Fibonacci retracement shows resistance at $1.56 (38.2% level), which ETHW needs to hold for sustained upside.

3. PoW Regulatory Tailwinds (Bullish Impact)

Overview: The SEC’s March 2025 statement clarified PoW mining isn’t subject to securities laws, boosting ETHW’s appeal as a “compliant Ethereum alternative.”

What this means:
- ETHW benefits from renewed interest in PoW chains amid Ethereum’s shift to PoS.
- Mining activity increased post-statement, with GPU mining guides (source) highlighting ETHW’s profitability.

Conclusion

ETHW’s rally combines technical momentum, ETF speculation, and PoW’s regulatory advantages. However, its 24h volume fell 11% to $10.5M – low liquidity risks exaggerated moves. Key watch: Can ETHW hold above $1.51 (30-day SMA) to confirm bullish structure?