Ethereum Faces Resistance as Institutional Demand Wanes
- Ethereum’s price fell from $3,300 to the $3,100 range, failing to hold above critical resistance.
- Ethereum‘s Coinbase Premium Gap has sharply declined into negative territory, indicating weaker US institutional demand.
- The negative premium suggests that US-based investors are less active compared to global counterparts, reducing upside potential.
- Key moving averages continue to act as resistance, with the $3,300–$3,600 zone facing renewed selling pressure.
- A break below the $2,900–$3,000 support range could lead to further declines towards the mid-$2,600s.
Ethereum is struggling to maintain its price above key resistance levels due to declining institutional demand in the US market. The Ethereum Coinbase Premium Gap turning negative signals a lack of strong buying interest from US investors compared to global markets.
To regain bullish momentum and avoid further declines, Ethereum needs to reclaim and sustain levels above $3,300 while attracting consistent institutional participation. (Source)
