Ethereum Price Drops to $2,436 Amid Crypto Market Downturn

Ethereum's price dipped to $2,436 on August 29, marking a 2.33% decline amidst a broader crypto market drop of 1.71%. Despite this, U.S. spot Ethereum ETFs saw significant inflows, with BlackRock's ETHA fund leading the way by capturing 72% of these flows with $1.02 billion.

The recent price action has investors watching key support at $2,350 and resistance near $2,500 for Ethereum's next moves. Technical analysis suggests a potential breakout could push ETH prices toward $2,800 or higher.

Regulatory clarity is also on the minds of investors, with the upcoming Senate vote on the CLARITY Act scheduled for September 15 potentially impacting crypto ETFs.