Ethereum's Price Struggles to Break Through $2,500 Barrier

Ethereum's price has slipped below $2,500 after recent gains, despite strong demand from US spot Ethereum ETFs. The token was trading at around $2,485 on August 28, down 0.1% over the past 24 hours.

The US spot Ethereum ETFs have provided a significant source of demand for Ethereum's recovery, with more than $1 billion in inflows over the past week. This has helped push Ethereum's price up by around 6.2% over seven days and 32.1% over 14 days.

However, profit-taking has limited each attempt to extend the rally beyond the $2,500 level. Holders who bought during the August decline are sitting on sizeable short-term gains, which may be contributing to the resistance at this price level.