Ether price is still stuck below $2.4K: Here is why

A majority of ETH price rallies stop at $2,400 as flat spot ETF inflows and rising Ether deposits to Binance weigh on traders’ confidence.

Ether (ETH) has tested the $2,400 resistance five times over the past month, with each breakout attempt losing momentum near that level. The stalled price action comes as spot Ether exchange-traded funds (ETFs) recorded just $500 million in inflows since March. Ether reserves on Binance exchange climbed by 400,000 ETH, and ETH futures traders also reduced leverage exposure over the past week.

Spot Bitcoin ETFs attracted roughly $4.5 billion in net inflows since March, supporting BTC’s move above $82,000. Ether ETFs recorded only $500 million in inflows during the same time period, leaving ETH without the same level of institutional buying pressure.

That demand gap matters because Ether has repeatedly tested the same resistance zone without fresh spot demand entering the market. 

Read more