-2.24% for Ethereum as $408 million ETH whale sell-off weighs on sentiment

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Ethereum slides 2.24% to $2,451 today

Highlights

U.S. spot Ethereum ETFs saw $141.39 million in net inflows, with BlackRock and Fidelity receiving the largest allocations.
A large wallet transferred 167,855 ETH worth $408 million to exchanges since late August, lifting available supply and potential sell pressure.
ETH is consolidating in a $2,366 to $2,536 range, with mixed momentum signals and sellers dominating intraday moves.

ETF inflow offsets whale supply as institutional exposure increases

U.S. spot Ethereum ETFs recorded a net inflow of $141.39 million on September 3, with BlackRock’s ETHA and Fidelity’s FETH drawing the largest commitments, according to Kucoin. This influx of institutional assets into exchange-traded funds increases regulated exposure to ETH, supporting overall market liquidity from traditional investment channels. Alongside this, News Bitcoin reported that a mystery whale moved 167,855 ETH, valued at $408 million, onto exchanges since late August, adding significant supply and increasing potential sell-side pressure.

Resistance at Kijun and mixed momentum signal trader indecision

On the technical front, ETH is currently trading above the MA-20 but just below the MA-50 on the 4-hour chart, maintaining a clear margin above the MA-200 on the daily timeframe. The Ichimoku Kijun at $2,451 now defines immediate resistance, and price remains near this level after a $51 gap was left intraday. Indicator readings are mixed: MACD is in strong buy territory, while ADX is neutral; RSI shows a weak sell signal, and both Stoch RSI and CCI are neutral, showing no clear overbought or oversold conditions. Bull/Bear Power confirms that sellers dominate on intraday frames, and the Awesome Oscillator is neutral, reinforcing the current trader indecision.

Sideways trading likely as resistance cluster limits breakout odds

For the short term, ETH is expected to trade within a $2,366 to $2,536 band, capturing its typical volatility. There is a 56% probability of an upward move within this range, while a decline is less likely at 44%. The base case is for further sideways action; a bullish breakout requires price to move decisively above both the Kijun and MA-50 resistance cluster, while a drop below $2,366 would likely trigger renewed bearish momentum.

Viktoras Karapetjanc, expert at Traders Union, notes increased institutional interest in Ethereum as inflows to spot ETFs provide new regulated demand. He believes that, despite mixed technical signals and recent large-scale selling by a whale, the market structure is underpinned by supportive liquidity from traditional channels. The analyst sees current price action constrained by short-term resistance, with sideways movement most likely for now. Still, confidence remains elevated on further adoption trends. "If institutional inflows continue and resistance at $2,451 is cleared, Ethereum may quickly retest higher levels within the established trading range."

Previously it was reported that UK retail investors gained broader access to regulated crypto-linked products as major platforms began offering bitcoin and ether exchange-traded notes following regulatory shifts. This expansion of regulated participation is now echoed by substantial institutional inflows into U.S. spot Ethereum ETFs, highlighting $2,366 as a critical support level to watch for potential downside risk in the near term.

Source of Data: ETH Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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