Ethereum Price Hits Resistance at $2,800 Amid Strong Institutional Demand

Ethereum's price action has been closely watched by investors and analysts in recent weeks. The cryptocurrency reached approximately $2,804 this week before falling back into the upper-$2,600s.

This puts Ethereum between a support zone of around $2,600-$2,660 and a resistance area stretching from roughly $2,775 to $2,825.

Despite slowing price momentum, institutional demand for Ethereum remains strong. U.S. spot Ethereum ETFs recorded significant net inflows over the past week, with $576 million in four sessions.

This influx of investment is a positive sign for Ethereum's future performance, especially considering its recent technical structure has improved considerably.