Ethereum Stalls at $2,550 as Institutional Demand Fades
Ethereum has recovered to around $2,500 after plummeting to approximately $2,370 this week, despite the Federal Reserve's rate hike and broader crypto volatility.
The question now is whether Ethereum can turn this rebound into a breakout above $2,550, an important short-term resistance area.
A decisive move above $2,550 could clear this resistance and potentially open a path toward $2,800, according to technical analysis. This fits with the earlier bull-flag setup that identified the $3,000 region as a potential upside destination if momentum returned.
However, there's an unusual twist: institutional ETF demand is moving in the opposite direction. U.S. spot Ethereum ETFs recorded net outflows of around $405 million across September 15-17, with investors withdrawing capital despite Ethereum's recovery.