Ethereum Price Under Pressure Despite Record Institutional Inflows

Ethereum's price has been trading at $2,418.4, down 2.33% on the day and below its primary short- and medium-term moving averages but maintaining longer-term bullish support.

The US spot Ether ETFs saw $87.6 million in daily net inflows on August 30, marking 11 straight trading days of positive flows.

Despite this institutional activity, technical signals indicate seller dominance, with a likely range for ETH/USD of $2,377 to $2,463 over the next sessions.