Ethereum Price Falters Amid Strong ETF Demand

Ethereum's price has dipped to $2,436 on August 29, down 2.33% from the previous day. Despite this decline, Ethereum has rallied sharply from around $1,900 in mid-August and tested $2,500 multiple times before pulling back.

The U.S. spot Ethereum ETFs have recorded net inflows totaling $1.52 billion over the past 10 days, with BlackRock's ETHA leading the way at $1.02 billion in inflows across nine straight sessions. This accounts for around 72% of all U.S. spot Ethereum ETF inflows during that period.

Analysts are watching key price levels to see if a breakout above $2,500 could send Ethereum towards $2,800 or potentially even higher targets like $3,200 and $3,500.