Ethereum holds its range despite mounting macroeconomic pressure
Ethereum remains inside the $2,370–2,550 range despite strong institutional demand through spot ETFs. At the same time, large ETH transfers to exchanges and a weaker macro backdrop are increasing the risk of pressure on the lower end of the consolidation.
According to SoSoValue, spot Ethereum ETFs recorded $824.42 million in net inflows between August 24 and August 28, marking their strongest weekly result since October 2025 and a new record for 2026.
The on-chain data tells a different story. According to Arkham address 0x2Ea2. Which is tied to a holder or institutional participant. Moved 40,881 ETH, worth about $100.67 million to exchanges in the last two days.
Cooling RSI keeps downside risk focused on $2,370
ETH keeps trading in the $2,370 to $2,550 range that was highlighted earlier. Signs that ETH is overheating in the term still exist, because the RSI (14) has moved out of the overbought zone but is still very close to it after the strong rally in August.
If ETH breaks and stays below $2,370 the short‑term structure will weaken a lot. The price will head toward key support, near $2,200.
For buyers to take charge again ETH must break decisively above $2,550. Then the chance of moving toward the $2,600 to $2,700 area would rise. For now however that scenario seems likely because macroeconomic and geopolitical uncertainty is rising.
Ethereum faces rising pressure from macro and geopolitical risks
Escalating tensions in the Middle East have put pressure on global markets. Brent climbed above $90 per barrel on August 31 after United States strikes on Iran and retaliatory actions by Tehran across the region.Higher oil prices could keep inflationary pressure elevated and complicate the outlook for monetary-policy easing.
Because of this strong ETF inflows are now being countered by negative factors. Those signals include selling from a large holder, geopolitical risk and a more restrictive rate environment. As long as ETH stays below $2,550 this balance makes a target of $2,370 the more realistic near‑term scenario.
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