Ethereum Price Slows Selloff Amid Oversold Conditions and Persistent Sell Pressure

The Ethereum price has slowed its selloff due to oversold conditions limiting further selling pressure. The current price of ETH is $1,859, down 1.37% on the day and below its key moving averages.

ETF inflows have been a supporting factor for the Ethereum network. Morgan Stanley's spot Ethereum ETF was approved to list and trade on NYSE Arca under the ticker MSSE, enhancing institutional access and increasing the potential for ETF-driven inflows.

The U.S. spot Ethereum ETFs attracted $26.3 million in net inflows on July 23, with high staking ratios reducing liquid supply despite persistent sell pressure. The current bearish momentum dominates, with a forecasted range of $1,834, $1,884 and a high likelihood of downward movement.