Ethereum Trapped in Range as Volatility Compresses

Ethereum's price remains confined to the $1,850, $1,950 range for over a month, but it shows relative strength on August 17.

The U.S. spot Ethereum ETFs recorded a modest combined net outflow of roughly $2.26 million between August 10 and August 14, marking the first negative week after five consecutive weeks of net inflows.

The on-chain backdrop is mixed: TVL of ETH is around $41.3 billion, up 0.56% in the last 24 hours, while stablecoin market cap is at around $147.8 billion after sliding 0.5% in the last week.

Ethereum needs to cross the 200-day average near $2,000 and stay above it for a chance to reach $2,100, but if it goes below the 50-day average near $1,846, it could drop to $1,700.