$ETH Struggles to Break Above $2,700 Amid Weaker Inflows
Ethereum's momentum is waning as it struggles to break above $2,700. The asset has been unable to build on its recent gains due to rising exchange balances and weaker institutional inflows.
Profit-taking has accompanied the consolidation, with investors awaiting key releases from the US inflation and labor market schedules for this week. Geopolitical uncertainty is also adding pressure on Ethereum's price, leaving it in need of a fresh catalyst to extend its advance.
Despite these headwinds, Ethereum's daily chart remains constructive. The asset continues to trade above its key exponential moving averages, although buyers have yet to overcome nearby resistance. Rising exchange reserves signal potential selling pressure, with around 125,000 $ETH entering exchange wallets since Friday.