Ethereum Price Drops Below $1900, But Institutional Demand Remains Strong

Ethereum's price slipped below $1,900, but its technical indicators suggest that it may be more of a pullback than a breakdown. The 20-day and 50-day EMAs are still above the current price, and the RSI is around 55, indicating steady buying momentum.

The continued inflows into US spot Ethereum exchange-traded funds (ETFs) indicate institutional demand remains resilient, with $14.9 million in net inflows on Thursday extending their winning streak to four consecutive trading sessions.

However, a daily close below the 20-day/50-day EMAs would turn this into a sustained breakdown, not just a pullback. The futures Open Interest (OI) has declined by 1.3% in the last 24 hours, and perpetual futures funding rates have weakened this week.