Ethereum Battles Key Resistance — Will Rising Inflows Tip the Balance?

Ethereum ($ETH ) is struggling to hold above $2,500 after sharp sell pressure followed a public clash between Donald Trump and Elon Musk. The political tension triggered a spike in exchange net inflows — over 117,000 ETH in two days — as speculators offloaded nearly $600 million worth of ETH amid macroeconomic uncertainty. This was the second-largest inflow since April, signaling growing investor caution. Despite this, ETH rebounded off key support at $2,400 and is now testing the bottom boundary of a major rising wedge pattern.

On-chain data from Santiment shows that most of the selling came from long-term holders, including coins dormant for 90 days to 2 years. Meanwhile, Ethereum ETFs continued to see net inflows, though modest, with $11.26 million added on Thursday. Futures markets also reflected volatility, with $46.7 million in liquidations split between long and short positions.

ETH is currently at a critical technical crossroads. A breakout above $2,530 could reestablish bullish momentum toward the $2,750–$2,850 resistance zone. However, failure to hold above $2,400 could lead to a deeper slide toward $2,260 or even $2,110.

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