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Ethereum Price Prediction: JPMorgan Builds on Ethereum While BlackRock Sees $102M Outflow in One Day
Ethereum traded at $2,300 on May 13 while holding inside an ascending wedge on the daily chart, as JPMorgan Chase launched its second tokenized Treasury fund on Ethereum and spot ETFs recorded their largest one-day outflow in weeks.
ETH Daily Chart: Wedge Tightens Below SAR and 100 EMA
Ethereum Daily Price Action (Source: TradingView)
The daily chart shows Ethereum recovering inside an ascending wedge that began from February lows near $1,800. Price reclaimed the 20 EMA at $2,311 and the 50 EMA at $2,275, both now acting as dynamic support. The 100 EMA at $2,341 remains the nearest ceiling, while the Parabolic SAR remains bearish and overhead at $2,420.
The wedge continues tightening. The upper rail approaches $2,400 while the lower rail holds near $2,200. Price has traded inside this range since April without a decisive breakout. Until ETH closes a daily candle above the SAR at $2,420, the technical trend remains unchanged. The 200 EMA at $2,578 stands as the macro target above that level.
Key Levels for ETH:
- Resistance: $2,341 (100 EMA), $2,420 (SAR), $2,578 (200 EMA)
- Support: $2,311 (20 EMA), $2,275 (50 EMA), $2,200 wedge base
- Wedge apex: approaching, breakout direction pending
ETH Spot ETF Outflows: BlackRock Led the Exit
Spot ETH ETFs recorded net outflows of $130.62 million on May 12, marking the largest single-day exit in weeks. ETHA by BlackRock led the outflows with $102.04 million, followed by FETH from Fidelity Investments with $36.98 million. BlackRock’s smaller ETHB fund moved against the trend and attracted $11.75 million.
Cumulative net inflows across all spot ETH ETFs still stand at $11.94 billion, while total net assets equal $13.39 billion.
The outflows followed two positive sessions on May 5 and May 6, which brought in $97.57 million and $61.29 million respectively. Over the last month, flows have remained volatile, alternating between strong inflows and sharp withdrawals, reflecting active institutional repositioning rather than steady accumulation.
ETH Derivatives: Volume and Open Interest Rise Together
ETH Derivatives Data (Source: Coinglass)
Trading volume increased 12.32% to $38.86 billion, while open interest rose 3.69% to $34.46 billion. Simultaneous growth in both metrics usually signals the creation of new positions rather than simple rotation of existing ones.
Options volume climbed 13.36% to $1.28 billion, while options open interest increased 3.29% to $7.26 billion, indicating that traders are positioning for a larger market move ahead.
Retail traders on Binance hold a long/short ratio of 2.6483. On OKX the ratio stands at 2.33. Top Binance traders maintain a much more neutral positioning ratio of 1.248.
During the past 24 hours, $48.77 million in long positions were liquidated versus only $9.01 million in shorts. This suggests excessive leverage among bullish traders near resistance rather than a classic short squeeze setup.
JPMorgan’s Second Tokenized Treasury Fund Will Operate on Ethereum
JPMorgan filed with the U.S. Securities and Exchange Commission to launch JLTXX — the JPMorgan OnChain Liquidity-Token Money Market Fund, a tokenized Treasury instrument built on Ethereum via the Kinexys Digital Assets platform.
The fund will invest exclusively in U.S. Treasury securities and overnight Treasury-backed repurchase agreements. Its structure is designed to qualify as an eligible reserve asset under the GENIUS Act framework, meaning stablecoin issuers could potentially use it to satisfy reserve requirements.
JLTXX becomes JPMorgan’s second tokenized fund on Ethereum after MONY, launched in December 2025 with $100 million in assets.
The prospectus also notes that the fund may later expand onto additional blockchains beyond Ethereum. JPMorgan’s Kinexys platform has already processed more than $3 trillion in cumulative transactions, and this filing adds another layer of institutional infrastructure being built on Ethereum alongside similar initiatives from BlackRock and other major firms.
Ethereum Price Forecast: Upside and Downside Scenarios for May 14
Upside:
A daily close above the SAR level at $2,420 would shift the trend and open the path toward the 200 EMA at $2,578. Institutional momentum from JPMorgan’s Ethereum expansion and renewed ETF inflows could accelerate the move.
Downside:
A breakdown below the wedge support at $2,200 would bring $2,000 back into play. Continued ETF outflows and forced long liquidations could intensify downside pressure.
See also: "Bitcoin Bull-Bear Indicator Flashes Green as BTC Tests Key Resistance"
