Ether Price Analysis: ETF Inflows and Market Trends
Ether (ETH) has been trading in a narrow range below $2,500, despite significant inflows into spot Ether ETFs. Data from Glassnode shows 106,000 Ether flowed into these funds last week, marking the seventh straight week of positive flows. This trend underscores growing institutional interest in Ethereum.
Institutional Demand Meets Potential Selling Pressure
While ETF inflows indicate bullish sentiment, Etherscan data reveals two wallets unstaked 95,920 Ether in early June, with 62,289 Ether moved to exchanges. This activity could signal impending selling pressure, creating uncertainty about Ether’s near-term price direction.
Technical Outlook Shows Consolidation
Ether currently oscillates between the 50-day SMA ($2,528) and support at $2,323. A sustained move above the 50-day SMA could drive prices toward $2,738, while falling below $2,323 might test $2,111. The RSI near 50 suggests neutral momentum.
Key Market Observations
- Ether’s price remains constrained under $2,500
- Consistent spot ETF inflows reflect institutional confidence
- Recent large unstaking events may introduce selling pressure
- Technical indicators point to ongoing consolidation
