Ethereum Stuck in Narrow Range as Institutional Demand Fails to Spark Breakthrough

Ethereum's price has been stuck in a narrow band for most of August, unable to break above $1,900. The cryptocurrency is currently trading near $1,875, with buyers defending the $1,850 zone but unable to push through the resistance at $1,920.

The daily chart shows ETH sitting below its 20-day and 50-day moving averages, which are now acting as resistance. The 14-day RSI is at 49.72, just below the neutral 50 level, indicating neutral-to-weak momentum.

Institutional demand remains strong, with US spot Ethereum ETFs recording $245 million in net inflows over five consecutive weeks. However, despite this steady demand, ETH has not been able to break through the $1,900-$1,950 resistance zone.