Ethereum Price Forecast: Institutional buying improves, but native crypto interest weakens

Ethereum price today: $2,350

• Ethereum ETFs have recorded three consecutive days of net inflows totaling $260 million.
• Interest from US native crypto investors remains weak, even as a key whale offloads 166,023 ETH to Binance.
• ETH faces rejection at the 20-week EMA.

Ethereum (ETH) is seeing a return of institutional interest after US spot ETH exchange-traded funds (ETFs) posted $97.5 million in net inflows on Tuesday. The products have now recorded three consecutive days of positive flows worth roughly $260 million, offsetting outflows from the first four days of last week.

The move follows a strong performance in April, when ETH ETFs posted 10 consecutive days of net inflows, ending the month with a total net inflow of $355 million.

A similar trend is visible in corporate activity, where Ethereum treasury firm BitMine Immersion Technologies (BMNR) continues to stack ETH. The firm likely added another 40,000 ETH to its holdings earlier on Wednesday, according to smart money tracker Lookonchain. BitMine reported holdings of 5.18 million ETH on Monday after acquiring 101,745 ETH last week.

The sustained buying activity comes amid declining interest from native crypto US investors, as evidenced by the Coinbase Premium Index. The metric, which compares ETH prices on Coinbase and Binance, has remained in negative territory over the past week, indicating weak interest from native crypto investors in the region.

The move shows divergent sentiment among institutional and crypto-native investors in the US.

Meanwhile, ETH's continued range-bound move around its realized price or average onchain cost basis continues to attract selling pressure.

A key Bitcoin OG whale, Garrett Jin, moved 166,023 ETH to Binance over the past few hours, according to Lookonchain. The whale had previously been linked to massive $1.1 billion short positions on Bitcoin and Ethereum following the October 10 leverage flush and a subsequent $378 million loss in January.

Retailers have also distributed roughly 1.5 million ETH in the past two weeks.

Ethereum Price Forecast: ETH sees rejection near 20-week EMA

Ethereum has seen $50.7 million in liquidations over the past 24 hours, led by $52.5 million in long liquidations.

On the weekly chart, ETH remains capped in the broader picture, holding beneath the 20- and 50-week Exponential Moving Averages (EMAs) at $2,438 and $2,747, which keeps the recovery attempts vulnerable to renewed selling. Momentum signals are mixed-to-soft, with the 14-week Relative Strength Index (RSI) lingering around 44 while the Stochastic Oscillator (Stoch) has pushed into overbought territory near 82, hinting that upside scope could be constrained while price trades below these medium-term averages.

On the topside, initial resistance is aligned at the horizontal barrier near $2,388, followed closely by the 20-week EMA at $2,438, forming a first cap region. A sustained break above this zone would open the way toward the $2,746 area and the adjacent 50-week EMA at $2,747, with $3,411 emerging as a more distant medium-term ceiling.

On the downside, immediate support is seen around the prior trend-line area at $2,306, ahead of the 9-week EMA at $2,275. A weekly close below these levels would expose the $2,211 and $2,107 supports, with deeper floors at $1,909, $1,741 and $1,524 if bearish pressure extends.

(The technical analysis of this story was written with the help of an AI tool.)