- Ethereum remains below $2,550 despite strong institutional demand from BitMine and spot Ethereum ETFs.
- ETH is still trading between $2,370 and $2,550, with $2,550 as the key resistance level.
Ethereum is holding within a narrow range as institutional buying continues to support ETH. However, technical pressure is keeping the price below the key $2,550 resistance level.
Recent purchases by BitMine and steady spot Ethereum ETF inflows show continued interest from institutional investors. Still, ETH has yet to make a clear move above its current trading range.
BitMine Adds More Ethereum to Its Holdings
BitMine bought another 53,501 ETH between August 24 and August 28. The latest purchase pushed its total Ethereum holdings to 5,901,112 ETH.
That amount represents about 4.9% of Ethereum’s circulating supply. BitMine has also committed more than 5.06 million ETH to staking.
The continued accumulation gives Ethereum additional support from large-scale investors. It also shows that institutional interest remains strong despite ETH’s recent price consolidation.
Ethereum ETFs Extend Their Inflow Streak
Spot Ethereum ETFs continue to see strong investor demand. Data from SoSoValue shows that the funds recorded $87.68 million in net inflows on August 31.
The latest inflows extended the positive streak to 11 consecutive trading sessions. This shows that demand for Ethereum exposure through regulated investment products remains strong.
The steady ETF inflows are helping support ETH while the price remains inside the $2,370 to $2,550 range. However, the buying has not been enough to push Ethereum through the $2,550 resistance level.
For now, ETF demand remains an important source of support for ETH. A sustained move above $2,550 would show that this institutional demand is translating into stronger price action.
ETH Remains Stuck Between $2,370 and $2,550
Ethereum continues to trade between $2,370 and $2,550. The range has remained intact despite strong institutional demand.
The Relative Strength Index has moved away from overbought levels. However, it remains close to that zone following Ethereum’s strong August rally.
This could make it harder for ETH to extend its gains in the short term. A sustained break above $2,550 would improve the outlook for buyers. Ethereum could then target the $2,600 to $2,700 area.
A move below $2,370 would create a different setup. It could expose ETH to further losses, with $2,200 becoming the next major support level.
Institutional Buying Faces Speculative Pressure
Strong institutional demand is helping to support Ethereum, but it does not guarantee an immediate price breakout.
Speculative leverage is increasing across the crypto market, while retail participation has been declining. These conditions could make ETH more vulnerable to sharp moves in either direction.
For now, $2,550 remains the key level for Ethereum bulls. ETH needs a sustained break above this resistance to signal that buyers are ready to push the price higher.
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