Ether has been trading below $2,500, showing a range-bound pattern, but increasing institutional interest may shift this trend. Recent data from Glassnode indicates that 106,000 Ether entered spot exchange-traded funds last week, marking the seventh consecutive week of positive inflows. However, caution remains as two Ethereum wallets withdrew 95,920 Ether in June, with a significant portion, 62,289 Ether, moved to exchanges, possibly for sale. Currently, Ether fluctuates between the 50-day simple moving average (SMA) at $2,528 and support at $2,323. The moving averages are stabilizing, and the relative strength index (RSI) is neutral, suggesting a period of consolidation. A breakout above the 50-day SMA could see prices rise to $2,738 and potentially $2,879, while a drop below $2,323 could lead to a decline towards $2,111. The market remains indecisive, with the price oscillating between $2,376 and $2,521, indicating that further movement is contingent on overcoming these key levels. Read more AI-generated news on: https://app.chaingpt.org/news

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