Ethereum Holds Ground Amid Broader Crypto Market Decline
Ethereum traded near $2,470 on Thursday, holding its ground despite a 4.27% decline in the broader crypto market. Bitcoin fell by 2.34% to $77,092.32, while Ether gave up only 1.02% over 24 hours.
The relative move between Ethereum and Bitcoin is significant, as Ethereum did not participate in the rotation of capital into the largest asset during the selloff. Instead, it held its value, which is unusual for a high-beta altcoin in a rate shock.
Spot Ether ETFs recorded $34 million of net inflows on Thursday, while Bitcoin funds posted an outflow day. This pattern has been building for weeks, with U.S. spot Ethereum ETFs recording $1.42 billion in net inflows over nine consecutive trading sessions from August 17 through August 28.
The 50-week moving average sits at $2,542, and Ether has repeatedly tried to clear $2,550 but failed each time. The structure favors consolidation until price moves decisively outside this range. A break above $2,600 shifts attention toward $2,800 and eventually the $3,000 area.
The weekly chart shows ETH breaking the descending trendline that had capped every rally since the August 2025 peak at $4,958. The most consequential technical event of Ether's 2026 has barely been repriced by the market.