Is Ethereum heading toward $2,200 amid weaker ETF flows and rising selling pressure?
Ethereum continues to trade within the $2,370–2,550 range, but the fundamental backdrop has deteriorated noticeably. Large ETH transfers to exchanges, a sharp slowdown in ETF inflows and renewed geopolitical tensions are increasing the probability of a test of the lower boundary of the range.
According to Arkham, an unidentified large holder transferred 103,252 ETH worth around $253 million to several exchanges over the past three days. Related addresses still hold another 64,603 ETH valued at roughly $155.8 million. Deposits of this size add further pressure to short-term sentiment.
At the same time, institutional demand through U.S. spot Ethereum ETFs has slowed sharply. According to SoSoValue, net inflows totaled just $10.95 million on September 1, down from $87.68 million on August 31, an almost eightfold decline. The positive streak, however, has now extended to 12 consecutive trading sessions.
Combined with geopolitical instability in the Middle East, these factors are prompting market participants to reduce exposure or take profits in higher-risk assets.

ETH downside pressure builds below $2,550
ETH continues to hold within the previously highlighted $2,370–2,550 consolidation range. However, the combination of weaker ETF inflows, large exchange transfers and deteriorating global risk sentiment has materially increased the probability of a move toward the lower boundary.
The base case is now a test of $2,370. If buyers fail to defend this level, the next important target would be support around $2,200. The RSI (14) remains another source of pressure, as it is still close to overbought territory following the strong August rally.
The bearish case would be invalidated by a decisive break and sustained move above $2,550. In that case, ETH could leave the current range and continue toward the next liquidity zone at $2,600–2,700.
Ethereum faces growing pressure as risk appetite weakens
Despite continued positive ETF flows, their sharp slowdown suggests that institutional support is no longer offsetting selling pressure as effectively as it did in late August. At the same time, large exchange deposits and geopolitical escalation are creating a less favorable environment for higher-risk assets.
As long as ETH remains below $2,550, the balance is gradually shifting toward a test of $2,370. A loss of this support would make $2,200 the next major target, while a recovery above $2,550 would be needed to restore stronger bullish momentum.